Franklin XRP Trust
Franklin XRP Trust is a Delaware statutory trust that issues the Franklin XRP ETF, a passive exchange-traded product designed to provide investors with price exposure to XRP through the securities markets. The Trust does not actively manage XRP holdings; instead, it holds XRP and seeks to reflect its market price, less expenses, with shares traded on NYSE Arca under the ticker XRPZ.
Tilikausi 2026 · muutos edellisvuodesta
Kehitys 2026–2026
Liiketoiminta
Osuus liikevaihdostaThe sole product is an exchange-traded fund that holds XRP and tracks its price less fees and liabilities.
Asiakkaat
The Trust’s customers are investors who want XRP exposure without directly buying, storing, or transferring the digital asset themselves. Shares are created and redeemed only by Authorized Participants, while the end investors are typically market participants accessing XRPZ on NYSE Arca through brokerage accounts. The product is aimed at investors seeking a regulated, exchange-traded wrapper around XRP price exposure.
Buy XRPZ on exchange for simple, listed exposure to XRP without managing wallets or crypto platforms.
Use the ETF wrapper for operational simplicity, custody convenience, and portfolio allocation to XRP.
Create and redeem 50,000-share units to keep market price aligned with NAV.
Strategia
The Trust’s strategy is to offer a low-friction, passive vehicle for XRP exposure through a familiar exchange-traded format. It relies on daily valuation, creation/redemption mechanics, and a fee waiver period to support early asset gathering and trading liquidity.
Trading depth and tight spreads are essential for an exchange-traded crypto product.
Lower fees can improve early adoption and help the fund scale assets under management.
The product proposition depends on tracking XRP price rather than discretionary management.
Maantiede
The Trust is organized in the United States as a Delaware statutory trust and its shares trade on NYSE Arca. Its economic exposure is global because XRP is a digital asset priced in international markets, but the operating structure, reporting, and fee arrangements are U.S.-based.
Riskit
The Trust is exposed to XRP price volatility, which directly drives NAV and share performance because the fund is a passive holder of the asset. It also faces market-structure risks common to crypto ETPs, including trading discounts/premiums, liquidity constraints, valuation disputes, and regulatory uncertainty around digital assets and exchange-traded products.
- XRP market price volatilityVaikutus: KorkeaTodennäköisyys: Kohtalainen
The Trust holds XRP passively, so asset price moves flow directly into NAV and share price.
Kohdistuu: Fund performance and investor returns
- Regulatory and legal uncertainty for digital assetsVaikutus: KorkeaTodennäköisyys: Kohtalainen
Changes in crypto regulation or exchange-traded product rules could affect operations or demand.
Kohdistuu: Product viability and market access
- Premium/discount to NAVVaikutus: KeskitasoTodennäköisyys: Kohtalainen
ETF shares trade on an exchange and may diverge from underlying XRP value.
Kohdistuu: Secondary market pricing and investor execution quality
- Valuation and principal market determinationVaikutus: KeskitasoTodennäköisyys: Kohtalainen
Fair value depends on identifying the principal market and using a reliable end-of-day price.
Kohdistuu: NAV calculation and reported fair value
Kirjanpito
Harkinnanvaraiset erätThe Trust values XRP using the principal market price for GAAP reporting, which can differ from the benchmark index used for NAV.
Vaikutus: Affects reported assets, net asset value, and period-to-period comparability
The Trust discloses both index-based NAV and GAAP-based Principal Market NAV, which can differ by methodology.
Vaikutus: Investors must reconcile reported fund economics with the accounting basis
Fees accrue daily at 0.19% annualized, but a temporary waiver changes expense recognition.
Vaikutus: Affects operating expenses and net asset value
Samankaltaisia listattuja yhtiöitä
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Päivitetty: 24.9.2026