The primary U.S. spot $XRP exchange-traded fund (ETF) has recorded a steep decline since its debut, in step with the asset’s muted efficiency following its launch.
Launched in September 2025 on the Cboe BZX Alternate, the REX-Osprey $XRP ETF (XRPR) marked a milestone by providing regulated publicity to $XRP with out requiring direct possession.
Its debut paved the way in which for a brand new wave of comparable merchandise, with corporations akin to Bitwise, Franklin Templeton, Grayscale, and 21Shares launching competing funds, bringing the whole variety of spot $XRP ETFs to seven throughout main brokerages.
Regardless of its pioneering function, the REX-Osprey product has struggled to keep up momentum. The fund closed at $11.81 on April 25, representing a 54% drop from its launch worth.
Losses have continued throughout a number of time frames, with the ETF down 42.89% over the previous six months and 23.66% year-to-date. Whereas it has proven modest short-term restoration, together with a 1.03% day by day acquire and a 0.94% rise over the previous month, the broader development displays continued draw back stress.
The fund’s efficiency mirrors a broader development throughout spot $XRP ETFs, the place robust early demand was adopted by a interval of correction.
Cumulative web inflows have reached about $1.3 billion, with whole property below administration close to $1.08 billion as of April 26.
Main gamers, together with Goldman Sachs, have taken positions, with the financial institution disclosing a $153.8 million stake. Total, the highest 30 establishments maintain greater than $211 million in $XRP ETFs, highlighting sustained skilled curiosity within the asset class.
The ETFs now custody roughly 787 million $XRP, equal to 0.79% of the whole provide. This has decreased the circulating provide whereas supporting exercise on the underlying community.
Robust $XRP spot ETF begin
Investor demand was significantly robust within the early section. The class surpassed $1 billion in inflows inside its first 50 days and peaked above $1.5 billion in January.
Momentum slowed between February and March, when the sector recorded its first month-to-month web outflow of $31 million.
Nonetheless, April introduced a turnaround, with $65 million in inflows month-to-date and a file weekly acquire of $55 million for the interval ending April 17.
Later entrants, together with Canary Capital’s XRPC and funds from Bitwise, have captured a bigger share of cumulative inflows, suggesting newer choices could also be benefiting from improved timing and market circumstances.
In the meantime, $XRP continues to commerce in consolidation, mirroring broader cryptocurrency market sentiment amid an absence of network-specific catalysts. As of press time, the token was valued at $1.43, having dropped greater than 20% in 2026.
