Grayscale XRP Trust ETF is a U.S.-listed digital-asset exchange-traded product that seeks to provide investors with exposure to the daily U.S. dollar spot price of XRP, the native digital asset of the XRP Ledger, through conventional brokerage and investment accounts. The Trust is sponsored by Grayscale Investments Sponsors, LLC, an affiliate of Grayscale Investments, a digital asset-focused investment platform founded in 2013 and headquartered in Stamford, Connecticut. The Trust’s primary offering consists of shares backed by XRP holdings; it is designed to enable investors to gain XRP price exposure without directly purchasing, storing or securing the digital asset. Its service providers include Coinbase Custody Trust Company, LLC as digital-asset custodian; BNY as fund administrator; CoinDesk Indices, Inc. as index provider; and Foreside Fund Services, LLC as marketing agent. The Trust primarily serves institutional investors, financial advisers, wealth managers and self-directed investors seeking regulated exchange-traded access to XRP-related investment exposure in the U.S. market.
Grayscale XRP Trust ETF began as a private-placement XRP investment vehicle in September 2024 and was converted into a publicly traded exchange-traded product on NYSE Arca under the ticker GXRP on November 24, 2025. The conversion broadened access to the XRP strategy through standard brokerage platforms and represented an expansion of Grayscale’s publicly traded cryptocurrency investment-product lineup. At launch, Grayscale offered a promotional 0.00% management fee for three months or until the Trust reached $1.0 billion in assets, after which the stated fee was 0.35%; the Trust is structured as an exchange-traded product rather than a registered investment company under the Investment Company Act of 1940.