Svmuu News: Analyst data shows that as of the end of 2025, Goldman Sachs (Goldman Sachs) has become one of the largest institutional holders of XRP spot ETFs. At the same time, there are a large number of unidentified investors in the market, whom analysts refer to as XRP’s “super fans.” Bloomberg analyst James Seyffart noted that the XRP ETF investors currently visible through regulatory filings represent only a small fraction of the total, as the vast majority of investors are not required to file 13F disclosure documents. Data shows that as of the end of 2025, the top 30 XRP spot ETF holders collectively held approximately $211 million in fund shares. Overall, these ETF products had attracted cumulative inflows of over $1 billion by the end of 2025. Another Bloomberg analyst, Eric Balchunas, believes that these funds likely come primarily from XRP’s core supporters (super fans), rather than ordinary retail investors.