Grayscale Launches 0%-Fee GXRP XRP ETF on NYSE Arca
Grayscale Investments has launched its new XRP ETF, GXRP, on NYSE Arca by converting its private-placement XRP trust into a fully regulated spot fund with direct XRP price exposure. The XRP ETF offers a promotional 0% management fee for three months or until it reaches $1 billion in assets (standard fee: 0.35%). As of November 21, GXRP holds 6 million XRP (≈$11.7 million) securely stored with Coinbase Custody. GXRP joins Canary Capital’s XRPC, Bitwise’s spot XRP ETF and Franklin Templeton’s XRPZ (0.19% fee, fee waiver on first $5 billion through May 2026). Grayscale, which has converted Bitcoin, Ethereum, Dogecoin and Solana trusts, aims to deliver tighter tracking and enhanced liquidity. The launch follows the SEC’s clearance of programmatic XRP sales in the Ripple case and comes amid strong inflows into U.S. spot crypto ETFs: $238.4 million into Bitcoin, $55.7 million into Ethereum and $10.4 million into Solana on November 21. Managing about $35 billion across 40 crypto products and planning a NYSE listing under GRAY, Grayscale’s move is expected to boost institutional adoption, intensify competition and lower trading costs in the XRP ETF market.
Bullish
The launch of the GXRP XRP ETF with a 0% management fee and streamlined access is likely bullish for XRP. In the short term, fee waiver and promotional momentum should drive inflows and price support. Long term, a regulated spot XRP ETF under Grayscale’s established framework enhances liquidity, institutional adoption and market credibility. The alignment with recent SEC clarity and strong spot ETF inflows into BTC, ETH and SOL further underpins positive sentiment and potential sustained demand for XRP.