Best XRP ETF: 10 US XRP Funds Compared, Fees From 0.19%

What XRP ETFs are there?

Ten US-listed ETFs give exposure to XRP. Six hold the token directly (five plain spot trusts plus one 1940 Act fund that holds XRP through a subsidiary). The other four hold futures or swaps, three of them at 2x daily leverage. Together the spot funds had taken in about $1.81 billion of cumulative net inflows by October 9, 2026, per SoSoValue data reported by CoinDesk.

Fees are the sponsors' stated rates from issuer filings and fact sheets. Launch-period waivers (Bitwise waived its fee for the first month on the first $500M; Grayscale's waiver ended February 25, 2026) have mostly lapsed, so the table shows the ongoing rate.

Which XRP ETF was first?

It depends on what counts. Teucrium's XXRP (April 2025) was the first US ETF tied to XRP at all, but it is a 2x leveraged swap fund. REX-Osprey's XRPR (September 2025) was the first to hold spot XRP, using a 1940 Act wrapper. Canary's XRPC (November 13, 2025) was the first plain spot trust of the kind that Bitcoin investors know from IBIT, followed within two weeks by Bitwise, Franklin Templeton and Grayscale.

What is the cheapest XRP ETF?

Franklin's XRPZ, at 0.19% a year, is the cheapest by a clear margin: about $1.90 a year per $1,000 held, against $5.00 for XRPC and $3.40 for Bitwise's XRP. Among the spot trusts, the fee is the main lasting difference, because all five hold the same asset in custody and track the same price.

Fee is not the only cost. Size and trading volume set the bid-ask spread you pay when you buy and sell, and the smaller trusts trade more thinly. Bitwise, Canary and Franklin have carried most of the category's flows; the last weekly flow note showed one issuer supplying almost all of a week's creations. Our guide to expense ratios and liquidity explains how to weigh the two.

Should you buy a spot or a leveraged XRP ETF?

They are built for different holding periods. A spot trust is meant to be held: it owns XRP, and your return is XRP's return minus the fee. The 2x funds reset their leverage every day, so over weeks of choppy prices they lose ground to twice XRP's move, and they charge 1.67% to 1.85% a year on top. XRPI is often listed with them but is not leveraged: it tracks XRP futures at 1x and pays the futures roll instead of holding the token.

XRPR sits in between. It holds spot XRP, but its 1940 Act structure and 0.75% fee make it the costliest way to hold XRP without leverage now that five 0.19% to 0.50% trusts exist.

What it means for investors

For a buy-and-hold position, the choice comes down to fee against liquidity. Pre-Tick's XRPZ vs XRPC comparison prices the gap at $3.10 less per $1,000 a year for XRPZ, and the same page shows each fund's net assets and recent flows side by side so you can check that the cheaper fund still trades enough for your order size. XRP vs GXRP and XRP vs TOXR cover the other common pairings.

The less obvious cost is the open. XRP trades through the night while these funds are closed, so the first print at 9:30 a.m. ET reflects the overnight move. Pre-Tick estimates each XRP fund's opening price before the bell on its ETF page and records how those estimates compare with the official open on /accuracy. For daily creations and redemptions, see this week's Solana and XRP ETF flows. If you are holding a 2x product for more than a day, check leverage decay first. This is market analysis, not investment advice.