Two XRP exchange-traded funds (ETFs) launched today as Franklin Templeton Digital Assets announced on Nov. 24 that its Franklin XRP ETF (NYSE Arca: XRPZ) began trading, while Grayscale introduced its GXRP product on the same exchange with a zero-fee structure. The dual rollout expands regulated access to XRP, a digital asset used in global payments and settlement.

“Blockchain innovation is driving fast-growing businesses, and digital asset tokens like XRP serve as powerful incentive mechanisms that help bootstrap decentralized networks and align stakeholder interests,” Roger Bayston, head of digital assets at Franklin Templeton, stated, emphasizing that XRP serves as a key component of diversified crypto portfolios. He added:

Within a diversified digital portfolio, we view XRP as a foundational building block. XRPZ provides regulated custody, daily transparency and liquidity without the operational complexity of holding the token directly.

Franklin Templeton also highlighted earlier remarks from David Mann, its head of ETF product and capital markets: “The rapid growth of our ETF business reflects Franklin Templeton’s commitment to staying at the forefront of innovation.” He continued: “XRPZ offers investors a convenient and regulated way to access a digital asset that plays a foundational role in global settlement infrastructure, through the transparency and oversight of an ETF.”

Read more: Grayscale’s XRP and DOGE ETFs Start Trading on NYSE Arca as Demand Accelerates

Franklin’s XRPZ seeks to mirror XRP’s price using the CME CF XRP-Dollar Reference Rate (New York Variant). It is structured as a grantor trust holding XRP, with daily net asset value calculations, Coinbase Custody Trust Company as custodian, and Bank of New York Mellon overseeing administration, transfer agency functions, and cash custody. The ETF sits alongside the firm’s EZBC, EZET, and EZPZ products as part of its U.S. digital-asset lineup. The announcement further emphasized the XRP Ledger’s decentralized design, its federated consensus model, and its ability to process thousands of transactions per second with low cost and energy usage.

Meanwhile, the Grayscale XRP Trust ETF (NYSE Arca: GXRP) began trading on Nov. 24, as part of Grayscale Investments’ expansion of digital asset offerings. To incentivize early adoption, Grayscale announced a promotional fee period: the Gross Expense Ratio is 0% for the first three months, or until the fund reaches $1.0 billion in assets. Following this waiver (expected to end around Feb. 24, 2026), the standard management fee for the ETF will be 0.35%. While some observers remain cautious about regulatory uncertainty and potential volatility, crypto proponents argue that regulated vehicles like XRPZ and GXRP broaden liquidity, streamline operational workflows, and support the long-term integration of crypto within global financial infrastructure.

• What makes the new XRP ETFs significant?
  They offer regulated, mainstream access to XRP through brokerage accounts.
• How does Franklin’s XRPZ track XRP’s price?
  It uses the CME CF XRP-Dollar Reference Rate (New York Variant).
• Why is Grayscale’s GXRP notable?
  It launches with a zero-fee structure targeting cost-sensitive investors.
• What role does the XRP Ledger play in these products?
  Its fast, low-cost, decentralized design underpins the asset exposure both ETFs provide.

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