Bank of Montreal disclosed XRP exposure through regulated U.S. fund products in its latest SEC Form 13F filing, reporting 323 shares of the Rex Osprey XRP ETF and 20 shares of the ProShares Ultra XRP ETF. The positions were a tiny part of a portfolio valued at more than $303 billion at the end of June 2026, but the filing adds another major Canadian bank to a trend of institutions using listed spot and derivatives-based products rather than holding tokens directly. The same reporting cycle also showed National Bank of Canada holding 3,848 shares of the Bitwise XRP ETF worth about $330,000, while earlier large holders such as Goldman Sachs pared back or exited and midsize asset managers and family offices rotated into spot funds and leveraged ETFs, though 13F disclosures lag by 45 days.