US XRP ETFs Compared: Fees, Assets, Launch Dates and Flows

Short answer: Six US-listed ETFs hold spot XRP. The first pure spot fund, the Canary XRP ETF (XRPC), started trading on Nasdaq on 13 November 2025, and the group now spans expense ratios from 0.19% (Franklin XRPZ) to 0.75% (REX-Osprey XRPR). The Bitwise XRP ETF (ticker XRP) is the largest at roughly $500 million in net assets as of 10 September 2026, per the issuer. Cumulative net inflows are reported at about $1.68 billion, according to SoSoValue data cited by Crowdfund Insider on 8 September 2026. None of the funds pays staking rewards, because the XRP Ledger has no staking. US-listed XRP ETFs are generally not sold to retail investors in the EU or UK, which have had their own XRP products since 2019.

Which US XRP ETFs are trading? #

As of mid-September 2026 there are six US exchange-traded funds whose main holding is XRP itself. Five are 1933-Act grantor trusts that hold the coin with a regulated custodian. The sixth, REX-Osprey’s XRPR, is a 1940-Act fund.

* TOXR fee: 21Shares’ SEC filings, including the 10-Q for 30 June 2026 and a prospectus supplement dated 27 August 2026, state 0.30% of net assets. The issuer’s product page showed “Management fee 0.50%” when checked on 14 September 2026. We use the SEC figure and flag the conflict.

XRPR note: the fund is a 1940-Act registered investment company investing through a Cayman subsidiary. Per its issuer page on 11 September 2026, about 59% of assets were direct XRP and about 41% were units of CoinShares Physical XRP, a European ETP. It launched two months before the pure spot funds, so some lists count it as the first XRP ETF and others do not.

Grayscale and Franklin figures are from 10-Q filings; third-party quote pages showed higher, unverified September figures (about $83 million and $377 million). Futures, leveraged and option-income XRP funds, such as Volatility Shares XRPI, which held CME futures rather than coins per its NPORT-P filing, are excluded.

Which one is the best XRP ETF? #

There is no single best fund. The choice depends on what you weight: cost, size, or structure.

On cost, Franklin XRPZ is the cheapest at 0.19%. TOXR (0.30% per SEC filings), Bitwise XRP (0.34%) and GXRP (0.35%) follow in a narrow band. XRPC charges 0.50% and XRPR 0.75%. On $10,000 that is $19 versus $75 a year, and every launch waiver has ended (see below).

On size, Bitwise XRP leads at $499.5 million with 368.6 million XRP in trust, per the issuer on 10 September 2026. XRPC is second among issuer-reported figures at $336.5 million.

On structure, the five grantor trusts work the same way: the trust holds XRP with a custodian and the share price tracks the coin less fees. Bitwise, Grayscale and Franklin all name Coinbase Custody Trust Company as custodian in their 10-Q filings. XRPR is the outlier because it wraps a European ETP inside a US fund.

For context, the US spot Solana ETFs charge 0.14% to 0.50%, so the XRP range is typical for a single-asset crypto ETF in 2026.

How do you buy an XRP ETF? #

The process is the same as for any listed ETF:

1. Open or log in to a US brokerage account that offers ETFs.
2. Search by ticker: XRPZ, XRP, GXRP, TOXR, XRPC or XRPR. Check the exchange in the table, since several tickers look alike.
3. Enter an order during US market hours. A limit order avoids overpaying in a fast market.
4. Confirm the expense ratio and structure in the prospectus before you commit.

No wallet or private key is involved. You own fund shares, not XRP, and retail holders cannot redeem shares for coins. Tax treatment differs between grantor trusts and 1940-Act funds, so check the prospectus. All six are US-listed and generally not accessible to EU or UK retail investors through local brokers.

Has the XRP ETF been approved? #

Yes. Six spot XRP funds are listed on US exchanges. The sequence of first-trade dates:

• 18 September 2025: REX-Osprey XRPR on Cboe BZX (1940-Act structure)
• 13 November 2025: Canary XRPC on Nasdaq, the first pure spot XRP ETF
• 20 November 2025: Bitwise XRP on NYSE Arca
• 24 November 2025: Grayscale GXRP and Franklin XRPZ, both on NYSE Arca
• 11 December 2025: 21Shares TOXR on Cboe BZX

The regulatory backdrop matters. On 7 August 2025 the SEC and Ripple filed a joint stipulation dismissing both their appeals, per SEC litigation release LR-26369. The $125,035,150 civil penalty against Ripple and the injunction on unregistered institutional sales remain in effect, while the 2023 ruling that programmatic exchange sales of XRP were not securities offerings stands. Spot XRP ETFs began trading roughly three months later. Not every filer reached market: WisdomTree and CoinShares are reported to have withdrawn their spot XRP proposals in January 2026.

Do XRP ETFs pay staking rewards? #

No, and none can. The XRP Ledger does not use proof of stake or mining. Its consensus protocol relies on validators chosen through unique node lists, and validators are not paid in XRP. The XRPL FAQ states that Ripple “avoids paying XRP as a reward for operating a validator so that such incentives do not warp the behavior of validators”, per xrpl.org.

An XRP ETF’s return is therefore the XRP price move minus the expense ratio, with no yield to offset the fee.

How much money has gone into XRP ETFs? #

Flow data comes from SoSoValue, which we could not access directly, so the figures below are as re-reported by secondary outlets and should be treated as approximate.

• Cumulative net inflows: about $1.68 billion since November 2025, as of 7 September 2026 (SoSoValue data cited by Crowdfund Insider and The Crypto Basic).
• Combined net assets: near $1.48 billion on the same basis.
• Largest week of 2026: $110.49 million in the week ending 28 August 2026.
• Most recent week: $18.96 million in the week ending 8 September 2026, with inflows to XRPZ and XRPC and a small outflow from Bitwise XRP.

Canary’s launch-day inflow was widely reported at around $245 million, but that figure traces to an issuer post and is unverified.

What are the risks? #

Price risk. XRP traded at $1.43 on 14 September 2026 (CoinGecko), up 41.7% over 30 days and 53.2% over one year, but still roughly 60% below its 2025 high. A fund that holds the coin moves with it, minus fees. If you have not settled whether the asset belongs in your portfolio, start with is XRP a good investment.

Fee drag with no yield. With no staking, the expense ratio is a pure cost. At 0.75%, XRPR needs the coin to rise 0.75% a year just to match holding it directly.

Structural differences. XRPR’s mix of direct XRP and a European ETP adds a layer of fees and tracking inside the wrapper. The grantor trusts avoid that but three of the five name the same custodian.

Small funds can close. Bitwise announced on 10 September 2026 that its Dogecoin ETF (BWOW) will liquidate on 14 October 2026. XRPR at $48 million and GXRP at $57 million (June figure) are the smallest funds here.

What about XRP ETFs outside the US? #

Europe has had XRP exchange-traded products since 2019, structured as ETPs or ETNs rather than 1933-Act trusts; see what an ETN is for the difference.

• 21Shares XRP ETP (AXRP) listed on SIX Swiss Exchange in 2019 and is the longest-running product, with $343.1 million in assets on 11 September 2026 and a 2.50% fee.
• CoinShares Physical XRP followed on SIX on 13 April 2021 at 1.50%, with $165.0 million.
• Bitwise (formerly ETC Group) launched on Xetra in April 2022 at 1.95%.
• In Sweden, several SEK-denominated lines trade: Valour Ripple (XRP) SEK (first trading 21 February 2024, now on Spotlight, 1.90%), Virtune XRP (Nasdaq Stockholm, 2 July 2024, 1.49%) and CoinShares XBT XRP SEK (Nasdaq Stockholm, 21 May 2025).

European fees run from about 1.49% to 2.50%, against 0.19% to 0.75% in the US, and assets are smaller. The UK is the exception: as of September 2026 the London Stock Exchange’s retail crypto ETN list contains bitcoin and ether products only, so there is no XRP ETN route for UK retail buyers yet. For tickers, venues and broker access, see the guide to European XRP ETPs on ETP Insider.

Have the launch fee waivers expired? #

Yes, all of them. Bitwise waived its 0.34% fee on the first $500 million of assets through 19 December 2025, per its 10-Q. Grayscale’s 0.35% waiver ran until 25 February 2026 or $1 billion in net assets, whichever came first; the date came first. Franklin waived its 0.19% fee on the first $5 billion through 31 May 2026, with no extension in its August 2026 10-Q. Canary, 21Shares and REX-Osprey stated no launch waiver. Every fund now charges its headline rate.

FAQ #

How many spot XRP ETFs are there in the US? Six: XRPR, XRPC, XRP, GXRP, XRPZ and TOXR. Five hold XRP directly in a grantor trust; XRPR is a 1940-Act fund holding part of its exposure through a European ETP.

Which XRP ETF has the lowest fee? Franklin XRPZ at 0.19%. 21Shares TOXR is next at 0.30% per its SEC filings, though the issuer site showed 0.50% on 14 September 2026.

Which XRP ETF is the largest? Bitwise XRP, with $499.5 million in net assets and 368.6 million XRP held as of 10 September 2026, per the issuer.

Can I buy a US XRP ETF from Europe or the UK? Generally not through a retail broker. Europe has its own XRP ETPs from 21Shares, CoinShares, Bitwise, Valour, Virtune and others. UK retail investors currently have no XRP ETN on the LSE list.

Does any XRP ETF pay a yield? No. The XRP Ledger has no staking mechanism, so no XRP fund can generate staking income.

Not financial advice. Capital at risk.