XRP market price volatility
The Trust holds XRP passively, so asset price moves flow directly into NAV and share price.
- Scope
- Fund performance and investor returns
- Materiality
- high
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.
| % | |
|---|---|
| Listed XRP ETF | 100% The sole product is an exchange-traded fund that holds XRP and tracks its price less fees and liabilities. |
The Trust’s customers are investors who want XRP exposure without directly buying, storing, or transferring the digital...
- Retail brokerage investorsprimary
Buy XRPZ on exchange for simple, listed exposure to XRP without managing wallets or crypto platforms.
- Institutional investorsprimary
Use the ETF wrapper for operational simplicity, custody convenience, and portfolio allocation to XRP.
- Authorized Participantssecondary
Create and redeem 50,000-share units to keep market price aligned with NAV.
The Trust is organized in the United States as a Delaware statutory trust and its shares trade on NYSE Arca...
- •United States domicile and SEC reporting structure
- •NYSE Arca listing provides U.S. market access
- •XRP pricing reflects global crypto market activity
- •Sponsor fee and NAV calculations are denominated in U.S. dollars
The Trust’s strategy is to offer a low-friction, passive vehicle for XRP exposure through a familiar exchange-traded...
01
Build ETF liquidity and market acceptanceshort-term
Trading depth and tight spreads are essential for an exchange-traded crypto product.
02
Attract assets through temporary fee reliefshort-term
Lower fees can improve early adoption and help the fund scale assets under management.
03
Preserve passive, rules-based XRP exposuremedium-term
The product proposition depends on tracking XRP price rather than discretionary management.
The Trust is exposed to XRP price volatility, which directly drives NAV and share performance because the fund is a...
Regulatory and legal uncertainty for digital assets
Changes in crypto regulation or exchange-traded product rules could affect operations or demand.
- Scope
- Product viability and market access
- Materiality
- high
Premium/discount to NAV
ETF shares trade on an exchange and may diverge from underlying XRP value.
- Scope
- Secondary market pricing and investor execution quality
- Materiality
- high
Valuation and principal market determination
Fair value depends on identifying the principal market and using a reliable end-of-day price.
- Scope
- NAV calculation and reported fair value
- Materiality
- medium
Fair value measurement of XRP
Affects reported assets, net asset value, and period-to-period comparability
NAV versus Principal Market NAV
Investors must reconcile reported fund economics with the accounting basis
Sponsor fee accrual and waiver
Affects operating expenses and net asset value
: 28.4.2026