XRPZ on NYSE
Franklin XRP Trust
American commodity contracts brokers and dealers company based in San Mateo2
In its 2026 annual report the company says: “The Trust currently offers a single series, the Franklin XRP ETF.”5 Its shares trade on NYSE under the symbol XRPZ.2
$14.54 up 0.18 (1.29%)Price as of Oct 15, 2026 at 17:33 UTC
Last updated Oct 20, 2026.
Overview
- TickerXRPZ on NYSE2
- IndustryCommodity Contracts Brokers & Dealers2
- HeadquartersSan Mateo, United States2
- Incorporated inDE4
- Business addressOne Franklin Parkway, San Mateo, Ca 944034
- Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company4
- Legal formFund2
- Kind of organizationFund2
- LEI2549005OQMNQ3G9QY1402
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O CSC DELAWARE TRUST COMPANY, 19808 Wilmington, United States2
- Registered withSecurities and Exchange Commission, 00020594382
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The Franklin XRP Trust (the “Trust”) was formed as a Delaware statutory trust on February 28, 2025, and is governed by the provisions of an Amended and Restated Agreement and Declaration of Trust (“Declaration of Trust”) dated as of October 1, 2025. The Trust currently offers a single series, the Franklin XRP ETF (the “Fund”). The Fund issues common units of beneficial interest (“Shares”), which represent units of fractional undivided beneficial interest in and ownership of the Fund. The Shares are listed on the NYSE Arca, Inc. (“NYSE Arca” or the “Exchange”) under the symbol “XRPZ.” Shares are not obligations of, and are not guaranteed by, the Sponsor or any of its subsidiaries or affiliates.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.7
| Period ending | 2026-03-31 | 2025-11-30 | 2025-03-31 |
|---|---|---|---|
| Investment in XRP, at fair value | $215.1M | $2.4M | |
| Total assets | $215.1M | ||
| Sponsor's fee payable | $0 | ||
| Total liabilities | $0 | ||
| Net assets | $215.1M | $2.4M | |
| Shares issued (in Shares) | 14.7M shares | ||
| Shares outstanding (in Shares) | 14.7M shares | 100.0K shares | |
| Net asset value per Share (in Dollars per share) | $14.63 | $24.40 | |
| Investment in XRP, at cost | $322.1M | ||
| Shares, no par value (in Dollars per share) | $0 |
| Period ending | 2026-03-31 | 2025-11-30 | 2025-03-31 |
|---|---|---|---|
| Investment in XRP, at fair value | $215.1M | $2.4M | |
| Total assets | $215.1M | ||
| Sponsor's fee payable | $0 | ||
| Total liabilities | $0 | ||
| Net assets | $215.1M | $2.4M | |
| Shares issued (in Shares) | 14.7M shares | ||
| Shares outstanding (in Shares) | 14.7M shares | 100.0K shares | |
| Net asset value per Share (in Dollars per share) | $14.63 | $24.40 | |
| Investment in XRP, at cost | $322.1M | ||
| Shares, no par value (in Dollars per share) | $0 |
Corporate structure
Franklin XRP Trust sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
- Franklin XRP Trust San Mateo, California, United States
- FRANKLIN XRP ETF Fund · San Mateo, California, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0). Each entity in the chart links to its source.
Subsidiaries and ownership
Fund manager
Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.
Timeline
Filings
25 filings to the SEC since October 2021: 1 annual reports, 2 quarterly reports, 1 major events, 21 other. The latest 20:
- Aug 14, 202610-Q EDGAR
- Jun 29, 2026424I EDGAR
- Jun 29, 202610-K EDGAR
- May 8, 20268-K EDGAR
- Feb 17, 202610-Q EDGAR
- Feb 5, 2026FWP EDGAR
- Dec 17, 2025FWP EDGAR
- Nov 25, 2025FWP EDGAR
- Nov 25, 2025FWP EDGAR
- Nov 25, 2025FWP EDGAR
- Nov 24, 2025424B3 EDGAR
- Nov 24, 2025FWP EDGAR
- Nov 24, 2025FWP EDGAR
- Nov 24, 2025FWP EDGAR
- Nov 24, 2025FWP EDGAR
- Nov 24, 2025FWP EDGAR
- Nov 21, 2025CERT NYSE ARCA CERTIFICATION EDGAR
- Nov 20, 2025CORRESP EDGAR
- Nov 18, 20258-A12B EDGAR
- Nov 4, 2025S-1/A EDGAR
The 25 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 44. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Franklin XRP Trust is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARFranklin XRP Trust1
- CIK0002059438
- Employer ID (EIN)39-68218455
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company5
- Incorporated inDelaware5
- Fiscal year endsMarch 311
- Industry code (SIC)6221 Commodity Contracts Brokers & Dealers1
- SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
- Business addressOne Franklin Parkway, San Mateo, CA 944031
- Phone(650) 312-20001
- Shares outstanding22,050,000 as of Aug 3, 20266
- Public float$0 as of Sep 30, 20257
- AuditorPricewaterhouseCoopers LLP, San Francisco, California PCAOB ID 238; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceMar 11, 20251
- Filings25 in all: FWP (10), S-1/A (3), 10-Q (2), CORRESP (2), 10-K (1), 424B3 (1), 424I (1), 8-A12B (1)1
All 12 form types
8-K (1), CERT (1), S-1 (1), UPLOAD (1)
- Latest filingsAnnual report (10-K) Jun 29, 2026
Quarterly report (10-Q) Aug 14, 2026
Latest 8-K (8-K) May 8, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Franklin XRP ETF Shares | XRPZ | NYSE Arca, Inc. |
From the cover page of the 10-K filed Jun 29, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks Franklin XRP Trust names in Item 1A of its 10-K filed Jun 29, 2026: 80 risks under these headings, as written.5
- The trading prices of many digital assets, including XRP, have experienced extreme volatility in recent periods and may continue to do so. Extreme volatility in the future, including further declines in the trading prices of XRP, could have a material adverse effect on the value of the Shares and the Shares could lose all or substantially all of their value.
- The value of the Shares is subject to a number of factors relating to the fundamental investment characteristics of XRP as a digital asset, including the fact that digital assets are bearer instruments and loss, theft, compromise or destruction of the associated private keys could result in permanent loss of the asset, and the capabilities and development of blockchain technologies such as the XRP Ledger.
- Digital assets represent a new and rapidly evolving industry, and the value of the Shares depends on the acceptance of XRP.
- The XRP Ledger’s governance structure may negatively affect its ability to grow and respond to challenges.
- Potential amendments to the XRP Ledger’s protocols and software could, if accepted and authorized by the XRP Ledger community, adversely affect the value of an investment in the Fund.
- The open-source structure of the XRP Ledger protocol means that the core developers and other contributors are generally not directly compensated for their contributions in maintaining and developing the XRP Ledger protocol. A failure to properly monitor and upgrade the XRP Ledger protocol could damage the XRP Ledger and negatively affect the value of an investment in the Fund.
- If a malicious actor or botnet obtains control of more than 80% of the validating nodes on the XRP Ledger, or otherwise obtains control over the XRP Ledger through its influence over trusted validators or otherwise, such actor or botnet could delay or manipulate the XRP Ledger, which could adversely affect the value of the Shares or the ability of the Fund to operate.
- If validators exit the XRP Ledger, it could increase the likelihood of a malicious actor obtaining control.
- A temporary or permanent “fork” or “clone” of the XRP Ledger could adversely affect the value of the Shares.
- Shareholders will not receive the benefits of any Incidental Rights and any IR Virtual Currency, including any forked or airdropped assets.
- In the event of a hard fork of the XRP Ledger, the Sponsor will, if permitted by the terms of the Declaration of Trust, use its discretion to determine which network should be considered the appropriate network for the Fund’s purposes, and in doing so may adversely affect the value of the Shares.
- Any name change and any associated rebranding initiative for XRP or the XRP Ledger may not be favorably received by the digital asset community, which could negatively impact the value of XRP and the value of the Shares.
The other 68 risks
- Validators may cease participating in validating activities because they are provided no direct financial incentive to participate or because certain jurisdictions may limit or otherwise regulated validating activities, which could negatively impact the value of XRP and the value of the Shares.
- The value of the Shares relates directly to the value of XRP which has been in the past, and may continue to be, highly volatile and subject to fluctuations due to a number of factors.
- Because the Fund holds only XRP and cash, an investment in the Fund may be more volatile than an investment in a more broadly diversified portfolio.
- XRP is a relatively new technological innovation with limited operating history
- Mathematical or technological advances could undermine the XRP Ledger’s consensus mechanism.
- A decline in the adoption of XRP or the XRP Ledger could negatively impact the Fund.
- The fixed supply of XRP may negatively impact the operation of the XRP Ledger.
- The significant holdings of XRP by Ripple Labs and other early stakeholders could have an adverse effect on the market price of XRP.
- Due to the relative unregulated nature and lack of transparency surrounding the operations of digital asset platforms, which may experience fraud, manipulation, security failures or operational problems, as well as the wider XRP market, the value of XRP and, consequently, the value of the Shares may be adversely affected, causing losses to Shareholders.
- Risk of loss of market confidence due to lack of established regulatory framework.
- Risk of manipulative activity—wash trading.
- Risks related to exchange bankruptcy, failure or closure, including as a result of criminal fraud, cyber attacks or other security breaches.
- Reputational harm and related industry contagion effects may exacerbate negative events in the digital asset markets or digital platforms.
- Coinbase serves as the Custodian and prime execution agent for several competing exchange-traded digital assets products, which could adversely affect the Fund’s operations and ultimately the value of the Shares.
- The Index has a relatively limited performance history, the Index price could fail to track the global XRP price, and a failure of the Index price could adversely affect the value of the Shares, and the Index’s methodology may be subject to change.
- The Index price used to calculate the value of the Fund’s XRP may be volatile, adversely affecting the value of the Shares.
- The Index Administrator could experience system failures or errors.
- The Index price being used to determine the net asset value of the Fund may not be consistent with GAAP. To the extent that the Fund’s financial statements are determined using a different pricing source that is consistent with GAAP, the net asset value reported in the Fund’s periodic financial statements may differ, in some cases significantly, from the Fund’s net asset value determined using the Index pricing.
- Competition from central bank digital currencies (“CBDCs”) and emerging payments initiatives involving financial institutions could adversely affect the price of XRP and other digital assets.
- The price of XRP may be affected due to stablecoins (including Tether and US Dollar Coin (“USDC”)), the activities of stablecoin issuers and their regulatory treatment.
- Competition from the emergence or growth of other digital assets or methods of investing in XRP could have a negative impact on the price of XRP and adversely affect the value of the Shares.
- Competitive pressures may negatively affect the ability of the Fund to maintain substantial assets and achieve long-term commercial success.
- Blockchain technologies are based on theoretical conjectures as to the impossibility of solving certain cryptographical puzzles quickly. These premises may be incorrect or may become incorrect due to technological advances.
- Digital asset treasury companies may exacerbate volatility in digital asset markets.
- Congestion or delay in the XRP Ledger may delay purchase or sales of XRP by the Fund.
- The SEC has approved generic listing standards for commodity-based trust shares and may approve other applications under Rule 19b-4 of the Exchange Act to list competing digital asset backed investment vehicles as exchange-traded products, which could reduce demand for, and the price of, XRP and adversely impact the value of the Shares.
- If regulators or public utilities take actions that restrict or otherwise impact validator activities, such actions could result in decreased security of a digital asset network, including the XRP Ledger, which could adversely affect the value of the Shares.
- The Fund may be negatively impacted by the effects of the spread of illnesses or other public health emergencies on the global economy and the markets and service providers relevant to the performance of the Fund.
- The Fund will rely on the information and technology systems of the Custodians, Administrator, Trustee, Sponsor, Authorized Participants and/or their designees, XRP Trading Counterparties, listing exchange, and the Fund’s other service providers and counterparties (referred to herein as the “Service Providers”), each of which could be directly or indirectly adversely affected by information systems interruptions, cybersecurity incidents or other disruptions, which in turn could have a material adverse effect on the Fund.
- The amount of the Fund’s assets represented by each Share will decline over time as the Fund pays the Sponsor’s Fee and additional expenses born by the Fund, and as a result, the value of the Shares may decrease over time.
- The Fund is a passive investment vehicle that does not seek to generate returns beyond tracking the price of XRP. The Fund is not actively managed, does not seek to generate excess returns beyond tracking the price of XRP and will be adversely affected by a general decline in the price of XRP.
- The value of the Shares may be influenced by a variety of factors unrelated to the price of XRP.
- The liquidity of the Shares may also be affected by the withdrawal from participation of Authorized Participants or XRP Trading Counterparties.
- The Fund and the Shares may be negatively affected by Authorized Participant Concentration.
- Certain shareholders may from time to time own a substantial amount of the Fund’s Shares.
- The Trust is an “emerging growth company” and it cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make the Shares less attractive to investors.
- The Fund is subject to certain risks due to its concentration in only one asset.
- The lack of an active trading market for the Shares may result in losses on your investment at the time of disposition of your Shares.
- If the process of creation and redemption of Creation Units encounters any unanticipated difficulties, the possibility for arbitrage transactions by Authorized Participants intended to keep the price of the Shares closely linked to the price of XRP may not exist and, as a result, the price of the Shares may fall or otherwise diverge from NAV.
- To the extent the Fund uses cash creations and redemptions, that may adversely affect the arbitrage transactions by Authorized Participants intended to keep the price of the Shares closely linked to the price of XRP and, as a result, the price of the Shares may fall or otherwise diverge from NAV.
- As an owner of Shares, you will not have the rights normally associated with ownership of other types of shares.
- The Sponsor may amend the Declaration of Trust without the consent of the Shareholders.
- Shareholders do not have the protections associated with ownership of shares in an investment company registered under the Investment Company Act or the protections afforded by the CEA.
- As the Sponsor and its management have limited history of operating investment vehicles like the Fund, their experience may be inadequate or unsuitable to manage the affairs of the Fund.
- Security threats to the Fund’s account at the XRP Custodian could result in the halting of Fund operations and a loss of Fund assets or damage to the reputation of the Fund, each of which could result in a reduction in the value of the Shares.
- XRP transactions are irrevocable and stolen or incorrectly transferred XRP may be irretrievable. As a result, any incorrectly executed XRP transactions could adversely affect the value of the Shares.
- If the Custodian Agreement, Prime Broker Agreement, an Authorized Participant Agreement or XRP Trading Counterparty Agreement is terminated or the XRP Custodian, Prime Broker, an Authorized Participant or an XRP Trading Counterparty fails to provide services as required, the Sponsor may need to find and appoint a replacement custodian, prime broker, authorized participant or XRP trading counterparty, which could pose a challenge to the safekeeping of the Fund’s XRP, the Fund’s ability to create and redeem shares and the Fund’s ability to continue to operate may be adversely affected.
- The lack of full insurance and Shareholders’ limited rights of legal recourse against the Fund, Trustee, Sponsor, Administrator, Cash Custodian, Prime Broker and XRP Custodian expose the Fund and its Shareholders to the risk of loss of the Fund’s XRP for which no person or entity is liable.
- If the Trade Credits are not available or become exhausted, the Fund may face delays in buying or selling XRP that may adversely impact Shareholders; if the Fund does not repay the Trade Credits on time, its assets may be liquidated by the Trade Credit Lender and its affiliates.
- Loss of a critical banking relationship for, or the failure of a bank used by, the Prime Broker could adversely impact the Fund’s ability to create or redeem Creation Units, or could cause losses to the Fund.
- The Prime Broker routes orders through Connected Trading Venues in connection with trading services under the Prime Broker Agreement. The loss or failure of any such Connected Trading Venues may adversely affect the Prime Broker’s business and cause losses for the Fund.
- The Fund may be terminated and liquidated at a time that is disadvantageous to Shareholders.
- The Declaration of Trust includes provisions that limit Shareholders’ voting rights and the ability to participate in shareholder derivative actions.
- The non-exclusive jurisdiction for certain types of actions and proceedings and waiver of trial by jury clauses set forth in the Declaration of Trust may have the effect of limiting a Shareholder’s rights to bring legal action against the Trust and could limit a purchaser’s ability to obtain a favorable judicial forum for disputes with the Trust.
- The Sponsor is solely responsible for determining the value of the net asset value of the Fund, and any errors, discontinuance or changes in such valuation calculations may have an adverse effect on the value of the Shares.
- Extraordinary expenses resulting from unanticipated events may become payable by the Fund, adversely affecting the value of the Shares.
- The Fund’s delivery or sale of XRP to pay expenses or otherwise in connection with operations of the Fund could result in Shareholders incurring tax liability without an associated distribution from the Fund.
- The value of the Shares will be adversely affected if the Fund is required to indemnify the Sponsor, the Trustee, the Administrator, the XRP Custodian or the Cash Custodian pursuant to its contractual arrangements.
- Digital asset markets in the U.S. exist in a state of regulatory uncertainty, and adverse legislative or regulatory developments could significantly harm the value of XRP or the Shares, such as by banning, restricting or imposing onerous conditions or prohibitions on the use of XRP, validator activity, digital wallets, the provision of services related to trading and custodying XRP, the operation of the XRP Ledger, or the digital asset markets generally.
- A determination that XRP or any other digital asset is a “security” may adversely affect the value of XRP and the value of the Shares, and result in potentially extraordinary, nonrecurring expenses to, or termination of, the Fund.
- Competing industries may have more influence with policymakers than the digital asset industry, which could lead to the adoption of laws and regulations that are harmful to the digital asset industry.
- Regulatory changes or actions in foreign jurisdictions may affect the value of the Shares or restrict the use of one or more digital assets, validating activity or the operation of their networks or the digital asset platform market in a manner that adversely affects the value of the Shares.
- If regulators subject the Fund or the Sponsor to regulation as a money services business (“MSB”) or money transmitter, this could result in extraordinary expenses to the Fund or the Sponsor and also result in decreased liquidity for the Shares.
- Anonymity and illicit financing risk.
- Regulatory changes or interpretations could obligate an Authorized Participant, the Fund, the Trust, the Sponsor, or other Fund service providers to register and comply with new regulations, resulting in potentially extraordinary, nonrecurring expenses to the Fund.
- The treatment of the Fund for U.S. federal income tax purposes is uncertain.
- The treatment of digital currency for U.S. federal income tax purposes is uncertain.
- Future developments regarding the treatment of digital currency for U.S. federal income tax purposes could adversely affect the value of the Shares.
Legal proceedings
Legal Proceedings
From time to time, the Trust and/or the Fund may be a party to certain legal proceedings in the ordinary course of business. As of June 29, 2026, the Trust and the Fund are not subject to any material legal proceedings, nor, to our knowledge, are any material legal proceeding threatened against the Trust or Fund.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3Yahoo FinanceXRPZ quote
- 4
- 5
- 6
- 7
- 8
- 9SEC EDGARExecutive or director change