$XRP The first U.S.-listed exchange-traded fund offering direct spot exposure to XRP has officially launched. The REX-Osprey XRP ETF, trading under the ticker XRPR, began trading today at 9:30 a.m. Eastern Time, marking a historic milestone for both Ripple’s XRP and the broader digital-asset market. The debut, highlighted on X by Xoom, has since been confirmed in official filings and issuer statements.

What Backs the XRPR ETF

According to its SEC-filed prospectus, XRPR is designed to give investors regulated, brokerage-account access to the price of XRP. The fund invests at least 80% of its net assets in XRP itself or in instruments providing direct exposure to XRP’s price.

To maintain liquidity and meet regulatory requirements, the fund also holds a minimum of 40% of its assets in other exchange-traded funds or products that track XRP. This creates a dual exposure model: primarily direct XRP holdings, supplemented by positions in related ETFs and ETPs to ensure smooth trading and compliance.

Custody and Operations

REX-Osprey employs a layered structure to safeguard and manage these assets. U.S. Bank, N.A. handles traditional fund accounting and securities custody, while Anchorage Digital Bank, N.A., serves as custodian for the digital-asset holdings.

For sourcing XRP liquidity, the fund taps regulated crypto marketplaces such as Coinbase and Kraken, ensuring transparent, onshore trading routes. The prospectus also allows the use of a Cayman Islands subsidiary, a common approach for managing tax obligations and preserving regulated investment company (RIC) status.

Why the Structure Matters

This hybrid arrangement—direct XRP holdings combined with substantial ETF/ETP allocations—sets XRPR apart from a simple “vault-only” crypto trust. It balances investor demand for spot exposure with the diversification, tax efficiency, and operational safeguards required of U.S.-registered funds.

The launch highlights the significant progress the market has made in incorporating digital assets into conventional financial offerings, reflecting a notable shift toward greater integration. With the SEC clearing a path for more spot crypto ETFs this year, XRPR provides a regulated, brokerage-friendly gateway for those seeking XRP exposure without managing private wallets or exchange accounts.

A Milestone for the XRP Market

Xoom’s report captured the anticipation that surrounded today’s debut. For XRP advocates, XRPR represents not just another investment vehicle but a key step toward broader institutional adoption and liquidity.

By providing traditional investors with a straightforward exchange-traded access point to XRP, the ETF is poised to increase market participation and further cement XRP’s role in the expanding digital asset environment.

Investors considering XRPR should, however, review the official prospectus and risk disclosures. The ETF’s structure—while designed for compliance and accessibility—introduces elements such as subsidiary management and custodial counterparty risk that are worth understanding before allocation.

With trading now underway, the REX-Osprey XRP ETF stands as the first U.S. spot product of its kind, signaling a new chapter for regulated XRP investment on Wall Street.

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