Grayscale Launches XRP Trust ETF GXRP With Trading Set for NYSE Arca
Grayscale launched the XRP Trust ETF, which begins trading on NYSE Arca today. The fund offers a temporarily waived 0% fee.
Quick Take
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Grayscale is launching its XRP Trust ETF (GXRP) on NYSE Arca, following SEC certification of the listing.
The product holds spot XRP and offers a passive exposure to the asset, with Coinbase Custody serving as custodian.
The management fee is temporarily waived (0% for the first three months or up to $1 billion in assets).
The launch coincides with a market rotation, where XRP products saw $179.6 million in inflows last week despite outflows from BTC and ETH ETFs.
Grayscale is expanding its lineup again. This time, the company is rolling out the Grayscale XRP Trust ETF, also known as GXRP. The product will begin trading on NYSE Arca on November 24. This gives investors a regulated way to gain exposure to XRP without holding the asset directly. The launch follows growing demand for altcoin-based ETFs as institutional investors look beyond Bitcoin and Ethereum.
GXRP offers passive exposure. It tracks the value of XRP held inside the trust, minus expenses and liabilities. Grayscale confirmed that GXRP is not registered under the Investment Company Act of 1940. Because of that, it carries higher risks and fewer protections than traditional ETFs. The company emphasized that the product is suitable only for investors who can handle volatility and the possibility of full loss.
Inside GXRP: Structure, Risks, and Early Details
GXRP uses a simple approach. It holds XRP directly and its objective is to mirror XRP’s market performance. Grayscale lists Coinbase Custody as the asset custodian. While BNY handles fund administration. As of November 21, the trust held more than 6 million XRP tokens. Each share represented just over 19 XRP.
The current expense ratio is 0%, but only for the first three months or until the fund reaches $1 billion in assets. After that, the fee increases to 0.35%. Management noted that brokerage fees and other trading costs may still apply. GXRP will not distribute dividends and it has no income-generating strategy. It is a pure exposure vehicle.
Even so, Grayscale believes the product meets growing demand. XRP has existed since 2012 and has expanded its use cases over time. The company highlighted that many investors prefer to avoid the complications of self custody, wallets and private keys. Now, they can buy and sell XRP exposure through a traditional brokerage account.
NYSE Arca Clears Multiple Altcoin ETFs
GXRP’s launch comes only days after NYSE Arca approved listings for three spot ETFs tied to XRP and Dogecoin. The exchange cleared products from Franklin Templeton and Grayscale after the SEC certified the filings on November 21. The move marks another step in bringing altcoin exposure into regulated U.S. markets. These listings mirror the path taken earlier by Bitcoin and Ethereum ETFs. They give pensions, advisors and institution-focused platforms a compliant way to diversify into other digital assets. Grayscale has been converting its private trusts into public products and GXRP continues that strategy.
XRP Inflows Rise as Market Rotates
GXRP is arriving at a moment when capital flows are shifting. Recent data showed heavy outflows from Bitcoin and Ethereum products last week. Bitcoin saw $1.22 billion leave and Ethereum recorded $500 million in outflows. Yet XRP moved in the opposite direction. XRP attracted $179.6 million in inflows. Solana also gained $128.2 million. Analysts say this signals a rotation rather than a retreat. Investors appear to be repositioning into altcoins with fresh catalysts and GXRP’s launch may strengthen that trend.
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