XRP supply chain intelligence for Bitwise XRP ETF: verified suppliers, customers, debt relationships, acquisitions, and ownership data.
Data compiled by Redley Lamar · ChainSifter Intelligence
Bitwise XRP ETF (XRP) is shown with relationship data already present in ChainSifter's database. Counts below come from stored supply-chain records and filing/source URLs where available; missing source URLs are not filled in or estimated.
| Ticker | Name | Confidence | Evidence |
|---|---|---|---|
| CMI-CAYMAN-LIMITED | CMI-CAYMAN-LIMITED | 90% | As of December 31, 2025, Coinbase, Inc., Cumberland DRW LLC, FalconX (d/b/a Solios, Inc.), Flow Traders B.V., CMI Cayman Limited, JSCT, LLC, Nonco Group LLC, Virtu Financial Singapore Pte. Ltd., and … |
| COINBASE-CUSTODY | COINBASE-CUSTODY | 90% | To the extent that the Trust engages an additional XRP Custodian in the future (a "Future XRP Custodian," and with Coinbase Custody, the "XRP Custodians"), other than the XRP held with the Prime Exec… |
| COINBASE-INC | COINBASE-INC | 90% | Prime Execution Agent : Coinbase Inc., an affiliate of the XRP Custodian. |
| CUMBERLAND-DRW-LLC | CUMBERLAND-DRW-LLC | 90% | As of December 31, 2025, Coinbase, Inc., Cumberland DRW LLC, FalconX (d/b/a Solios, Inc.), Flow Traders B.V., CMI Cayman Limited, JSCT, LLC, Nonco Group LLC, Virtu Financial Singapore Pte. Ltd., and … |
| FALCONX-D-B-A-SOLIOS-INC | FALCONX-D-B-A-SOLIOS-INC | 90% | As of December 31, 2025, Coinbase, Inc., Cumberland DRW LLC, FalconX (d/b/a Solios, Inc.), Flow Traders B.V., CMI Cayman Limited, JSCT, LLC, Nonco Group LLC, Virtu Financial Singapore Pte. Ltd., and … |
| FLOW-TRADERS-B-V | FLOW-TRADERS-B-V | 90% | As of December 31, 2025, Coinbase, Inc., Cumberland DRW LLC, FalconX (d/b/a Solios, Inc.), Flow Traders B.V., CMI Cayman Limited, JSCT, LLC, Nonco Group LLC, Virtu Financial Singapore Pte. Ltd., and … |
| FORESIDE-FUND-SERVICES-LLC | FORESIDE-FUND-SERVICES-LLC | 90% | Marketing Agent : Foreside Fund Services, LLC. |
| JSCT-LLC | JSCT-LLC | 90% | As of December 31, 2025, Coinbase, Inc., Cumberland DRW LLC, FalconX (d/b/a Solios, Inc.), Flow Traders B.V., CMI Cayman Limited, JSCT, LLC, Nonco Group LLC, Virtu Financial Singapore Pte. Ltd., and … |
| NONCO-GROUP-LLC | NONCO-GROUP-LLC | 90% | As of December 31, 2025, Coinbase, Inc., Cumberland DRW LLC, FalconX (d/b/a Solios, Inc.), Flow Traders B.V., CMI Cayman Limited, JSCT, LLC, Nonco Group LLC, Virtu Financial Singapore Pte. Ltd., and … |
| VIRTU-FINANCIAL-SINGAPORE-PTE-LTD | VIRTU-FINANCIAL-SINGAPORE-PTE-LTD | 90% | As of December 31, 2025, Coinbase, Inc., Cumberland DRW LLC, FalconX (d/b/a Solios, Inc.), Flow Traders B.V., CMI Cayman Limited, JSCT, LLC, Nonco Group LLC, Virtu Financial Singapore Pte. Ltd., and … |
| WINTERMUTE-TRADING-LTD | WINTERMUTE-TRADING-LTD | 90% | As of December 31, 2025, Coinbase, Inc., Cumberland DRW LLC, FalconX (d/b/a Solios, Inc.), Flow Traders B.V., CMI Cayman Limited, JSCT, LLC, Nonco Group LLC, Virtu Financial Singapore Pte. Ltd., and … |
| BNY-MELLON | BNY-MELLON | 85% | The Trust has entered into the Cash Custody Agreement with BNY Mellon under which BNY Mellon acts as custodian of the Trust’s cash and cash equivalents. |
| BITWISE-INVESTMENT-ADVISERS-LLC | BITWISE-INVESTMENT-ADVISERS-LLC | 80% | The Trust is sponsored and managed by Bitwise Investment Advisers, LLC (the “Sponsor”). |
| Ticker | Name | Confidence | Evidence |
|---|---|---|---|
| COIN | Coinbase Global, Inc. | 85% | Reciprocal relationship from COIN graph: Reciprocal relationship from XRP graph: me Execution Agent is limited in its ability to execute order flow for its customers, including the Trust. In addition… |
| PRIME-EXECUTION-AGENT-COINBASE-INC | PRIME-EXECUTION-AGENT-COINBASE-INC | 85% | me Execution Agent is limited in its ability to execute order flow for its customers, including the Trust. In addition, while the Prime Execution Agent has policies and procedures to help mitigate th… |
| BLSH | Bullish | 72% | defined as buyers and sellers in the principal or most advantageous market that are independent, knowledgeable, and willing and able to transact. The Trust only receives XRP in connection with a crea… |
| BLSH | Bullish | 72% | Reciprocal relationship from BLSH graph: Reciprocal relationship from XRP graph: Reciprocal relationship from BLSH graph: Reciprocal relationship from XRP graph: defined as buyers and sellers in the … |
| AS-PRIME-EXECUTION-AGENT-COINBASE-INC | AS-PRIME-EXECUTION-AGENT-COINBASE-INC | 62% | me Execution Agent is limited in its ability to execute order flow for its customers, including the Trust. In addition, while the Prime Execution Agent has policies and procedures to help mitigate th… |
| CELH | Celsius Holdings, Inc. | 62% | Reciprocal relationship from CELH graph: Reciprocal relationship from XRP graph: disruption in digital asset markets, a loss of confidence in participants of the digital asset ecosystem, significant … |
| CELSIUS-NETWORK-LLC | CELSIUS-NETWORK-LLC | 62% | disruption in digital asset markets, a loss of confidence in participants of the digital asset ecosystem, significant negative publicity surrounding digital assets broadly and market-wide declines in… |
| CF-BENCHMARKS-LTD | CF-BENCHMARKS-LTD | 62% | te the Pricing Benchmark is deemed inconsistent with GAAP, the Trust will utilize an alternative GAAP-consistent pricing source for purposes of the Trust’s periodic financial statements. The Trust’s … |
| CME | CME Group Inc. | 62% | Reciprocal relationship from CME graph: Reciprocal relationship from XRP graph: y breach, to identify and analyze the impact of “suspicious trading activity” on Mt. Gox between February and November … |
| CME-GROUP | CME-GROUP | 62% | y breach, to identify and analyze the impact of “suspicious trading activity” on Mt. Gox between February and November 2013, which, according to the authors, caused the price of bitcoin to increase f… |
| COINBASE-INC-CUMBERLAND-DRW-LLC | COINBASE-INC-CUMBERLAND-DRW-LLC | 62% | ounterparties at its quarterly meetings and will reject the approval of any previously approved XRP Trading Counterparty if new information arises regarding the entity that puts the appropriateness o… |
| DIGITAL-ASSET-MARKET-FOURTH-LUKKA-INC | DIGITAL-ASSET-MARKET-FOURTH-LUKKA-INC | 62% | defined as buyers and sellers in the principal or most advantageous market that are independent, knowledgeable, and willing and able to transact. The Trust only receives XRP in connection with a crea… |
| DIGITAL-CURRENCY-GROUP | DIGITAL-CURRENCY-GROUP | 62% | disruption in digital asset markets, a loss of confidence in participants of the digital asset ecosystem, significant negative publicity surrounding digital assets broadly and market-wide declines in… |
| EMERGING-GROWTH-COMPANY | EMERGING-GROWTH-COMPANY | 62% | to pay the Sponsor Fee and any other Trust expenses not assumed by the Sponsor. To pay for expenses not assumed by the Sponsor that are denominated in U.S. dollars, the Sponsor, on behalf of the Trus… |
| GEMINI-TRUST-COMPANY-LLC | GEMINI-TRUST-COMPANY-LLC | 62% | disruption in digital asset markets, a loss of confidence in participants of the digital asset ecosystem, significant negative publicity surrounding digital assets broadly and market-wide declines in… |
| GENESIS-GLOBAL-CAPITAL-LLC | GENESIS-GLOBAL-CAPITAL-LLC | 62% | disruption in digital asset markets, a loss of confidence in participants of the digital asset ecosystem, significant negative publicity surrounding digital assets broadly and market-wide declines in… |
| ICE-DATA-INDICES-LLC | ICE-DATA-INDICES-LLC | 62% | te the Pricing Benchmark is deemed inconsistent with GAAP, the Trust will utilize an alternative GAAP-consistent pricing source for purposes of the Trust’s periodic financial statements. The Trust’s … |
| LMAX-GROUP | LMAX-GROUP | 62% | ounterparties at its quarterly meetings and will reject the approval of any previously approved XRP Trading Counterparty if new information arises regarding the entity that puts the appropriateness o… |
| SECOND-LUKKA-INC | SECOND-LUKKA-INC | 62% | defined as buyers and sellers in the principal or most advantageous market that are independent, knowledgeable, and willing and able to transact. The Trust only receives XRP in connection with a crea… |
| THIRD-LUKKA-INC | THIRD-LUKKA-INC | 62% | defined as buyers and sellers in the principal or most advantageous market that are independent, knowledgeable, and willing and able to transact. The Trust only receives XRP in connection with a crea… |
| VIRTU-FINANCIAL-SINGAPORE-PTE-LTD | VIRTU-FINANCIAL-SINGAPORE-PTE-LTD | 62% | ounterparties at its quarterly meetings and will reject the approval of any previously approved XRP Trading Counterparty if new information arises regarding the entity that puts the appropriateness o… |
| VOYAGER-DIGITAL-LTD | VOYAGER-DIGITAL-LTD | 62% | disruption in digital asset markets, a loss of confidence in participants of the digital asset ecosystem, significant negative publicity surrounding digital assets broadly and market-wide declines in… |
| VYGR | Voyager Therapeutics, Inc. | 62% | Reciprocal relationship from VYGR graph: Reciprocal relationship from XRP graph: disruption in digital asset markets, a loss of confidence in participants of the digital asset ecosystem, significant … |
| WINTERMUTE-TRADING-LTD | WINTERMUTE-TRADING-LTD | 62% | ounterparties at its quarterly meetings and will reject the approval of any previously approved XRP Trading Counterparty if new information arises regarding the entity that puts the appropriateness o… |
| Holder | Name | Confidence | Evidence |
|---|---|---|---|
| XRP-OWNER-GOLDMAN-SACHS-GROUP-INC | GOLDMAN SACHS GROUP INC | 90% | 13F overlay lists GOLDMAN SACHS GROUP INC as top holder; 61 tracked holders. |
| Ticker | Name | Chain Index | Hops | Relationship Types |
|---|---|---|---|---|
| ETHW | Bitwise Ethereum ETF | 100.00 | 2 | |
| LAC | Lithium Americas Corp. | 100.00 | 2 | |
| CRMZ | CreditRiskMonitor.com, Inc. | 100.00 | 2 | |
| CME | CME Group Inc. | 100.00 | 1 | ['customer'] |
| BWOW | Bitwise Dogecoin ETF | 100.00 | 2 | |
| GXRP | Grayscale XRP Trust ETF | 100.00 | 2 | |
| CELH | Celsius Holdings, Inc. | 100.00 | 1 | ['customer'] |
| ETH | Grayscale Ethereum Mini Trust ETF | 100.00 | 2 | |
| BITB | Bitwise Bitcoin ETF | 100.00 | 2 | |
| BSOL | Bitwise Solana Staking ETF | 100.00 | 2 | |
| BTCW | WisdomTree Bitcoin Fund | 100.00 | 2 | |
| BLBX | Blackboxstocks Inc | 100.00 | 2 | |
| CMBT | Cmb.Tech NV | 100.00 | 2 | |
| GSUI | Grayscale Sui Staking ETF | 100.00 | 2 | |
| BITW | Bitwise 10 Crypto Index Fund | 100.00 | 2 | |
| GSOL | Grayscale Solana Staking ETF | 100.00 | 2 | |
| XYF | X Financial | 100.00 | 2 | |
| GBTC | Grayscale Bitcoin Trust ETF | 100.00 | 2 | |
| COIN | Coinbase Global, Inc. | 100.00 | 1 | ['customer'] |
| TWOD | Two Harbors Investment Corp. | 100.00 | 2 |