Seven different $XRP exchange-traded funds now trade on US exchanges. The five primary spot funds alone held $927.78 million in combined net assets as of early June 2026, while cumulative net inflows across the $XRP ETF complex have reached roughly $1.47 billion since the first fund launched in November 2025. If you’ve searched for a specific ticker — XRPI, XRPC, GXRP, TOXR — and come away more confused about which fund is which, you’re not alone: these products launched within months of each other in late 2025 and early 2026, each from a different issuer, with different fee structures and, in one case, futures-based rather than spot exposure. Here’s the complete breakdown.
Key Takeaways
- Seven $XRP ETFs currently trade in the US: Bitwise ($XRP), Canary Capital (XRPC), Franklin Templeton (XRPZ), Grayscale (GXRP), REX-Osprey (XRPR), 21Shares (TOXR), and Volatility Shares (XRPI)
- Six of the seven hold spot $XRP directly in institutional custody; XRPI is a futures-based product tracking CME $XRP futures contracts rather than holding spot $XRP directly
- Fees range from 0.19% (Franklin Templeton’s XRPZ) to 0.75%, with several issuers running temporary fee waivers to attract early assets
- All can be bought through standard brokerage accounts — Fidelity, Schwab, Vanguard, Robinhood — without needing a crypto wallet or private keys
- Grayscale’s GXRP originated as a private trust before converting to ETF structure, which is why it sometimes appears in searches as “Grayscale $XRP Trust”
The Complete List of $XRP ETFs
Fee and custodian figures for Bitwise and Canary Capital are confirmed via SEC filings and fund provider data. Figures for the remaining five issuers are drawn from secondary reporting and haven’t been independently verified against primary sources — always confirm current terms directly with the issuer or your brokerage before investing.
What Actually Happened, and Why So Many Launched at Once
Spot $XRP ETFs became possible only after the SEC resolved the long-running legal uncertainty around $XRP’s regulatory status in 2025. Once that cleared, approvals came in a wave rather than one at a time — multiple issuers had registration statements sitting ready, and Ripple CEO Brad Garlinghouse described the resulting rush of near-simultaneous launches as a “pre-Thanksgiving rush” when Bitwise’s fund debuted in November 2025. Bitwise’s $XRP ETF became the first mover and quickly the most liquid, reporting over $100 million in inflows in its opening days. Canary Capital’s XRPC and 21Shares’ TOXR followed within the same window.
Demand has been uneven but persistent since launch. May 2026 was the strongest month yet for the complex, with $131.94 million in net inflows, and as of late June the funds had strung together eight consecutive weeks of positive flows. Retail investors have driven the bulk of that demand — accounting for roughly 84% of inflows by some estimates — while larger institutional participation has moved in fits and starts; Goldman Sachs, for instance, built and then fully exited a $153.8 million $XRP ETF position within two quarterly filings. For the latest on how these funds are trading, see today’s $XRP news.
XRPI Is Different From the Others — Here’s What to Know
Most searches for individual $XRP ETF tickers assume every fund works the same way: hold $XRP, track its price 1:1. That’s true for six of the seven funds, but not for XRPI. Volatility Shares’ product, which launched earliest of the group on May 22, 2025, doesn’t hold spot $XRP at all — instead, it invests principally in $XRP futures contracts traded on the CME (Chicago Mercantile Exchange) through a wholly-owned Cayman Islands subsidiary, a structure commonly used by futures-based crypto ETFs to manage tax treatment. It targets 1x daily $XRP performance, not a leveraged or amplified return, but the futures-based mechanics mean its returns can still diverge from spot $XRP over time due to factors like futures roll costs — a nuance that doesn’t apply to the six spot-holding funds on this list. Volatility Shares separately offers a genuinely leveraged 2x product under a different ticker (XRPT), which is a distinct fund from XRPI and worth not confusing with it. If you’re looking for the most direct $XRP price exposure, one of the six spot funds tracks the underlying asset more cleanly; XRPI is a futures-based alternative for investors who prefer that structure specifically.
Grayscale’s GXRP: Trust-to-ETF Conversion Explained
Grayscale’s $XRP product has a different history than the others. It originated as a privately-traded trust — the kind of structure Grayscale has long used to offer crypto exposure to investors before spot ETFs existed for a given asset — and later converted into a standard ETF. That conversion matters practically: trust shares often trade at a premium or discount to the underlying asset’s actual value, while properly functioning ETFs use a creation/redemption mechanism that keeps share price closely tied to net asset value. Now that GXRP trades as a converted ETF, that discount/premium dynamic has largely resolved, giving holders cleaner price tracking than the legacy trust structure offered.
How to Buy an $XRP ETF
Every fund on this list trades on standard US exchanges (NYSE, Nasdaq, or Cboe BZX) and can be purchased the same way you’d buy any stock or ETF:
- Open or log into a brokerage account — Fidelity, Schwab, Vanguard, and Robinhood all support these tickers
- Search the specific ticker symbol ($XRP, XRPC, XRPZ, GXRP, TOXR, XRPR, or XRPI)
- Place a standard buy order, same as purchasing any equity ETF
No crypto wallet, exchange account, or private key management is required — the fund’s custodian (Bitwise uses Coinbase Prime; Canary Capital splits custody between Gemini Trust and BitGo Trust; other issuers use their own arrangements) holds the underlying $XRP, and your brokerage account holds shares representing your claim on it.
