Key Notes
- Grayscale waives the standard 0.35% management fee for three months, or until the fund reaches $1 billion in assets.
- The fund holds approximately 6 million XRP tokens valued at $11.67 million, with Coinbase providing secure storage.
- Franklin Templeton launched its competing XRP fund on the same day with the lowest fee in the market at 0.19%.
Grayscale Investments launched its XRP Trust ETF on NYSE Arca on Nov. 24, joining three other funds that let investors buy XRP XRP $2.20 24h volatility: 7.4% Market cap: $132.80 B Vol. 24h: $5.76 B through standard brokerage accounts. The fund offers a promotional 0% management fee.
XRP ranks as the third-largest cryptocurrency by market value, behind Bitcoin BTC $88 328 24h volatility: 1.7% Market cap: $1.76 T Vol. 24h: $76.52 B and Ethereum ETH $2 943 24h volatility: 5.2% Market cap: $355.49 B Vol. 24h: $29.22 B .
The new fund trades under the ticker GXRP and waives its standard 0.35% fee for three months or until assets reach $1 billion, whichever comes first, according to Grayscale’s product page .
The trust held approximately 6 million XRP tokens valued at $11.67 million as of Nov. 21. Coinbase Custody Trust Company holds the fund’s tokens in secure storage.
Krista Lynch, Senior Vice President of ETF Capital Markets at Grayscale, described the launch as a step toward broadening access to the XRP ecosystem, according to the press release .
Introducing Grayscale XRP Trust ETF (Ticker: $GXRP ), now trading with 0% fees¹ from Grayscale, the world's largest crypto-focused asset manager².
Gain exposure to $XRP , the world’s 3rd largest digital asset³, driving innovation in global payments. Available in your brokerage… pic.twitter.com/rAzGrm0M6P
— Grayscale (@Grayscale) November 24, 2025
Competitive Landscape
Four XRP funds now trade in the United States. Canary Capital launched the first on Nov. 13 under the ticker XRPC. Bitwise’s spot XRP ETF followed on Nov. 20.
Franklin Templeton launched its XRP fund under the ticker XRPZ on the same day as Grayscale.
The Franklin Templeton product carries the lowest fee at 0.19% with a full waiver on the first $5 billion in assets until May 31, 2026.
Bitwise charges 0.34% with a first-month waiver on the first $500 million. Canary Capital’s XRPC carries a 0.50% fee with no announced waiver.
Grayscale manages approximately $35 billion in assets across more than 40 investment products. The company filed for a public listing on NYSE under the “GRAY” ticker on Nov. 13.
The US spot Bitcoin ETFs recorded $238.4 million in net inflows on Nov. 21, while Ethereum ETFs attracted $55.7 million, according to Farside Investors . Solana ETFs added $10.4 million on the same day.
XRP ETFs recorded approximately $423 million in cumulative net inflows with $384 million in net assets as of Nov. 21, according to SoSoValue data .
Bitwise’s XRP ETF led daily inflows with $11 million on Nov. 21.
