Ken Griffin’s Citadel Advisors sharply increased its exposure to U.S.-listed XRP exchange-traded funds in the second quarter, including a 764% rise in call contracts on Volatility Shares’ 2x XRP ETF, XRPT. The hedge fund, which has $875 billion in assets under management, grew its investment portfolio by more than $250 billion and added substantially to crypto stocks and ETFs. Citadel disclosed direct holdings of 215,639 shares in the REX-Osprey XRP ETF, XRPR, and 54,438 units in the Volatility Shares Trust XRP ETF, XRPI. Its XRPT call position rose from 9,040 contracts in the first quarter to 78,075 contracts worth $1.70 million in the second quarter. Other disclosed call positions included 79,500 contracts in Canary XRP ETF, XRPC; 54,500 new contracts in Franklin XRP Trust, XRPZ; 46,200 in Bitwise XRP ETF; and 15,350 in Teucrium 2x XRP ETF. Citadel also retained or added put positions, including a rise in XRPI puts from 30,400 to 90,700 contracts, new puts in Bitwise XRP and Teucrium 2x XRP ETFs, and reduced but open puts in Franklin XRPZ. Those positions provide downside hedging rather than representing an unqualified directional bet. The hedge fund exited several cash ETF lines in the quarter, including Canary XRPC, Bitwise XRP, Franklin XRPZ, Grayscale GXRP calls, ProShares Ultra XRP options and Teucrium XXRP options. Citadel also disclosed holdings in Armada Acquisition Corp II, XRPN. Evernorth Holdings, described as the largest XRP treasury, is nearing a merger with Armada that would take the combined company to Nasdaq, with final shareholder voting scheduled for September 30 after SEC approval. JPMorgan, Morgan Stanley, Bank of America and Goldman Sachs also disclosed XRP exposure in the second quarter, while Goldman Sachs returned as the largest XRP ETF holder with $86.50 million in total holdings. U.S. spot XRP ETFs continued recording inflows into early September, reaching cumulative net inflows of nearly $1.7 billion even as XRP surrendered part of its late-August rally. XRP rebounded almost 10% today as Trump discussed ending the US-Iran war and the Treasury debt buyback. The token traded at $1.46 after reaching a 24-hour low of $1.33, while trading volume rose 20% over the past few hours. Ripple’s expansion in tokenization, payments and DeFi infrastructure, together with the upcoming XRP Ledger v3.3.0 upgrade, has added to the bullish signals cited for XRP. Traders seeking to capitalize on the momentum can compare features on crypto derivative futures trading platforms.