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GXRP is a passive grantor trust built to track the daily USD spot price of XRP, minus the trust’s expenses and liabilities.
It holds actual XRP with a custodian and values it daily using the CoinDesk XRP CCIXber Reference Rate, which aggregates spot pricing across exchanges based on recent liquidity.
Shares are created/redeemed in large blocks via authorized participants to help keep market price near NAV, but meaningful premiums/discounts can still happen.
This fund is like a vault that holds XRP, and you buy shares of the vault instead of buying XRP yourself. You don’t own XRP directly—you own trust shares whose value is designed to move with XRP’s USD price.
Concentrated single-asset exposure. Higher volatility.