XRP ETF: The Full Guide
Seven spot and futures XRP ETFs trade in the US as of 2026 β Bitwise, Franklin Templeton, Canary Capital, 21Shares, Grayscale, and more. Fees and AUM compared.
Updated June 2026 Β· Educational only, not financial advice
Seven XRP ETFs trade in the US as of 2026, led by Franklin Templeton's XRPZ on lowest expense ratio (0.19%) and Canary Capital's XRPC on AUM
XRP had no US ETF at all until the SEC approved the first spot funds in November 2025, following the resolution of the Ripple SEC litigation. It's now the third token (after BTC and ETH) with mainstream brokerage-accessible spot ETFs.
Category
Spot ETF
Difficulty
Beginner
What you need
Any US brokerage account that lists these funds (Vanguard does not list any spot crypto ETF, the same exception as its BTC/ETH funds)
Cost or time
Expense ratios 0.19%β0.35% Β· IRA-eligible
About this topic
XRP had no US ETF of any kind until the SEC approved the first spot XRP funds in November 2025, following the resolution of the long-running Ripple v. SEC litigation that had left XRP's regulatory status in question for years. Educational only, not financial advice. Canary Capital's XRP ETF (ticker XRPC) was first to market, launching on Nasdaq November 13, 2025 with nearly $250 million in first-day inflows β the highest first-day trading volume of any ETF launched in 2025. Bitwise's XRP (ticker XRP) followed a week later on November 20, 2025. Five more funds have since launched: Franklin Templeton's Franklin XRP ETF (ticker XRPZ), 21Shares' XRP ETF (ticker TOXR), Grayscale's converted XRP Trust (ticker GXRP), REX-Osprey's XRP fund (ticker XRPR), and Volatility Shares' XRP futures-based fund (ticker XRPI). All but the Volatility Shares fund hold spot XRP rather than futures contracts.
Expense ratios range from 0.19% to 0.35%: Franklin Templeton's XRPZ is the cheapest at 0.19%, 21Shares' TOXR sits at 0.30%, Bitwise's XRP charges 0.34%, and Canary's XRPC and Grayscale's GXRP each charge 0.35% (Grayscale's launch fee waiver expired February 24, 2026, so it now charges its full rate). By early 2026, Canary's XRPC led on assets under management at roughly $300β$376 million (reported figures vary by date), with Bitwise XRP and Franklin XRPZ close behind β all three funds have attracted meaningful inflows since launch, with cumulative flows across all spot XRP ETFs exceeding $1.5 billion.
All of the spot funds are IRA-eligible, so they slot into a Roth or Traditional IRA at Fidelity, Schwab, or E*Trade the same way a spot Bitcoin or Ethereum ETF does. Vanguard does not list spot XRP ETFs, the same exception it makes for BTC and ETH funds.
How it actually works
A spot XRP ETF holds actual XRP in custody with a qualified custodian and issues shares that trade on a US exchange (NYSE Arca or Nasdaq, depending on the fund). Each share represents a fractional claim on the fund's XRP holdings, and the share price tracks XRP's market price minus the expense ratio. Authorized participants create and redeem shares in blocks to keep the market price close to net asset value, the same creation/redemption mechanism used by spot Bitcoin and Ethereum ETFs.
Buying shares means buying an SEC-registered security through your normal brokerage account β no XRP wallet, no private keys, no exchange KYC. The fund sponsor and its custodian handle storage and security. The one non-spot option, Volatility Shares' XRPI, instead holds XRP futures contracts rather than the coin itself β futures-based funds can diverge from spot price over time due to contango or backwardation in the futures curve, the same dynamic that affected early Bitcoin futures ETFs like BITO before spot funds existed.
Trading only happens during US market hours (9:30 AMβ4 PM ET, MondayβFriday), even though XRP itself trades 24/7 on crypto exchanges β overnight and weekend price moves show up as gaps at Monday's open, the same limitation every crypto ETF shares. Tax treatment follows standard ETF rules: short-term gains (under 1 year) are ordinary income, long-term gains get 15β20% capital-gains treatment for most holders, plus a 3.8% NIIT surcharge above certain income thresholds, and the 30-day wash-sale rule applies because ETF shares are securities β unlike direct XRP ownership, which (as of 2026) is not subject to wash-sale rules.
Step by step
- 1Confirm your brokerage lists spot XRP ETFs β most major brokerages carry at least one; Vanguard does not list any spot crypto ETF.
- 2Pick a fund by what you're optimizing for: Franklin Templeton's XRPZ leads on lowest expense ratio (0.19%); Canary Capital's XRPC leads on AUM/liquidity.
- 3Decide account type β Roth IRA for tax-free growth, Traditional IRA for tax-deferred, or a taxable brokerage account for flexibility.
- 4If comparing to futures-based exposure, note that Volatility Shares' XRPI holds futures, not spot XRP, and can diverge from spot price over time.
- 5Check each fund's current expense ratio before buying β Grayscale's GXRP fee waiver expired February 24, 2026, so its full 0.35% rate now applies.
- 6Remember these only trade during NYSE/Nasdaq market hours β weekend XRP price moves will show up as a gap at Monday's open.
What works in your favor
- Gives brokerage-account XRP exposure with no exchange account, no wallet, and no private-key management required.
- IRA-eligible β hold in a Roth or Traditional IRA for tax-advantaged growth, the same as a spot Bitcoin or Ethereum ETF.
- Multiple issuers now compete on fee (0.19% to 0.35%), giving investors a real choice unlike XRP's near-total lack of ETF access before November 2025.
Watch out for
- You own fund shares, not XRP itself β no on-chain transfer, no use in DeFi, and no ability to move the asset to a personal wallet.
- Only trades during NYSE/Nasdaq market hours, unlike XRP itself which trades 24/7 on crypto exchanges.
- The one futures-based fund (Volatility Shares' XRPI) can diverge from XRP's spot price due to contango/backwardation β read the prospectus before assuming futures and spot track identically.
Common questions
Is there a spot XRP ETF?
Yes. The SEC approved the first spot XRP ETFs in November 2025, following the resolution of the Ripple v. SEC litigation. Seven funds now trade, including spot funds from Bitwise (XRP), Franklin Templeton (XRPZ), Canary Capital (XRPC), 21Shares (TOXR), Grayscale (GXRP), and REX-Osprey (XRPR), plus one futures-based fund from Volatility Shares (XRPI).
Which XRP ETF has the lowest fee?
Franklin Templeton's XRPZ has the lowest expense ratio among spot XRP ETFs at 0.19% as of 2026. 21Shares' TOXR is next at 0.30%, Bitwise's XRP charges 0.34%, and Canary Capital's XRPC and Grayscale's GXRP each charge 0.35% β Grayscale's launch fee waiver expired February 24, 2026.
Which XRP ETF has the most assets?
As of early 2026, Canary Capital's XRPC led on assets under management at roughly $376 million, with Bitwise's XRP fund and Franklin Templeton's XRPZ close behind. Cumulative inflows across all spot XRP ETFs have exceeded $1.5 billion since the first launches in November 2025.
Can I hold an XRP ETF in a Roth IRA?
Yes. The spot XRP ETFs are IRA-eligible the same way spot Bitcoin and Ethereum ETFs are β open a Roth or Traditional IRA at a brokerage that lists them (most major brokerages do; Vanguard does not) and buy shares like any other ETF.
What's the difference between a spot and futures XRP ETF?
A spot XRP ETF (Bitwise, Franklin Templeton, Canary, 21Shares, Grayscale, REX-Osprey) holds actual XRP in custody, so its share price tracks the real-time market price minus fees. A futures-based fund (Volatility Shares' XRPI) instead holds XRP futures contracts, which can diverge from spot price over time due to contango or backwardation in the futures curve β the same dynamic that affected Bitcoin futures ETFs before spot funds existed.
When did the first XRP ETF launch?
Canary Capital's spot XRP ETF (ticker XRPC) launched on Nasdaq November 13, 2025, shortly after the SEC's approval β the first US spot XRP ETF to begin trading, pulling in nearly $250 million in first-day inflows. Bitwise's XRP fund followed a week later on November 20, 2025. Franklin Templeton, 21Shares, Grayscale, and REX-Osprey launched their own funds in the following months.
Sources
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