The XRPR ETF is the first U.S. exchange-traded fund offering direct regulated exposure to XRP, trading on the CBOE under XRPR; it launched with $625,000 in initial assets and provides brokerage access via holdings tied to CME and CoinShares benchmarks.
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XRPR launched on CBOE with initial assets of $625,000 and 25,000 shares outstanding
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XRPR holdings combine CME’s CF XRP‑Dollar Reference Rate (59%) and CoinShares Physical XRP (39%), creating NAV‑linked shares
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XRPR recorded roughly $24 million in turnover within 90 minutes; DOJE logged about $6 million in its first hour
XRPR ETF: First U.S. XRP ETF on CBOE, offering regulated brokerage access—learn launch details, holdings split, and first‑day volume. Read more now.
What is the XRPR ETF and how does it provide XRP exposure?
The XRPR ETF is the first U.S. exchange‑traded fund providing regulated exposure to XRP, listed on the CBOE under ticker XRPR. It launched with 25,000 shares and $625,000 in initial assets, and its net asset value is derived from a mix of CME’s CF XRP‑Dollar Reference Rate and CoinShares’ Physical XRP product.
How are XRPR ETF holdings structured?
XRPR allocates holdings approximately 59% to CME’s CF XRP‑Dollar Reference Rate and 39% to CoinShares’ Physical XRP product, with a small cash buffer. This structure means the share price reflects a blended NAV rather than the spot XRP price on crypto exchanges.
How did XRPR perform on its first day of trading?
XRPR began trading at $25.80 against an NAV of $25 and traded mostly in the $25–$26 range, while XRP spot traded near $3.11 on major exchanges. Notably, XRPR cleared about $24 million in turnover within the first 90 minutes—substantially higher than previous XRP futures ETFs achieved on day one.
Why did XRPR trade at a price far above XRP spot?
Because XRPR shares represent ownership in a basket of instruments denominated and weighted to reference rates and physical custody products, each share’s dollar value is scaled away from individual XRP token prices. The fund’s design intentionally sets share value based on asset composition and NAV per share.
What’s up with the Dogecoin ETF DOJE?
DOJE is the first U.S. Dogecoin ETF and also exceeded early expectations. Bloomberg’s Eric Balchunas reported about $6 million in volume in the first hour. DOJE traded between $26.43 and $27.11 on launch day, while spot DOGE was approximately $0.282 on Binance.
What does the initial volume tell investors?
High initial turnover for XRPR and DOJE signals robust retail and institutional curiosity for regulated crypto products, even without support from some major Wall Street firms. Early volume is an indicator of demand but not a guarantee of sustained flows.
Frequently Asked Questions
How does XRPR differ from spot XRP ownership?
XRPR represents shares in a fund composed of reference rate and custody products, not direct token ownership. Share price reflects NAV per share, which is scaled differently than spot XRP exchange prices.
Can retail investors buy XRPR through regular brokerages?
Yes. XRPR is listed on the CBOE and is accessible via standard brokerage accounts that trade U.S. ETFs, subject to normal account eligibility and trading permissions.
Key Takeaways
- First U.S. XRP ETF: XRPR is the inaugural U.S. fund offering regulated exposure to XRP via CBOE listing.
- Holdings mix matters: The fund uses CME and CoinShares products to derive NAV, which separates share price from spot token prices.
- Strong launch demand: Early trading showed tens of millions in turnover, indicating significant appetite for regulated crypto ETFs.
Conclusion
XRPR’s launch marks a milestone for regulated crypto investment products in the U.S., offering a brokerage‑accessible vehicle tied to CME and CoinShares benchmarks. DOJE’s simultaneous debut underscores growing investor demand for mainstream ETF wrappers for digital assets. Watch volume and NAV dynamics for insights into market adoption.
