Data as of .
XRPI vs XRPZ: which tracked its coin?
Over the window both share, XRPI finished 3.5 percentage points behind XRP and XRPZ 0.22 ahead.
ETFIQ Coin Capture Score: XRPZ scores higher
How much of what holding the coin gave did a holder of the fund keep?
A percentile among the 24 spot crypto ETPs with a full year. It is a position in a set, not a rating, and neither end of it is a recommendation. All crypto ETFs ranked by it · How it is computed
The same coin, two trusts
XRPI and XRPZ hold the same asset. Both are 1933 Act trusts holding XRP through a custodian, so neither has a portfolio to compare: the whole of each fund is one line. Over the days each has traded, XRPI finished 8.7% behind XRP once both returns are compounded and XRPZ 0.83 of a percentage point behind, but the two windows are not the same days, so neither figure is set against the other here. That gap is the fee, the custody, the creation and redemption friction and the market’s pricing of the shares, compounded into one figure. XRPI has 186 more days of record than XRPZ, and a longer record is a longer window over which a cost can show itself.
Performance, window by window
| Window | Total return | The coin over the same days | Difference, percentage points | |||
|---|---|---|---|---|---|---|
| XRPI | XRPZ | XRPI | XRPZ | XRPI | XRPZ | |
| 1 month | +34.4% | +35.2% | +35.0% | +35.0% | −0.6 pts | +0.2 pts |
| 3 months | +18.3% | +20.3% | +19.8% | +19.8% | −1.5 pts | +0.4 pts |
| 6 months | −6.5% | −2.8% | −3.0% | −3.0% | −3.5 pts | +0.2 pts |
| 1 year | −59.3% | not published | −55.4% | not published | −8.7% of its growth | not published |
| Since each listed | −52.0% | −39.9% | −44.2% | −39.1% | −14.0% of its growth | −0.8 pts |
| XRPI Volatility Shares Trust XRP ETF Holds XRP through a custodian, listed May 22, 2025 | XRPZ Franklin XRP Trust Holds XRP through a custodian, listed Nov 24, 2025 | |
|---|---|---|
| Sponsor | Volatility Shares | Franklin |
| Holds | XRP | XRP |
| Net assets | not read | $236m, balance sheet of Jun 30, 2026 |
| Sponsor’s fee | not read | 0.19% |
| Fee waiver | none | the whole fee, first $5.0 billion of assets |
| Staking | possible; no clear answer read | the chain has none |
| Listed | May 22, 2025 | Nov 24, 2025 |
| Days since listing | 477 days | 291 days |
| Days it has traded | 328 | 200 |
| Days it closed unchanged | 3 | 0 |
| Quoted | on an exchange, every trading day | on an exchange, every trading day |
| Fund returned, 1 year or since launch | −59.3% | −39.9% |
| The coin over the same days | −55.4% | −39.1% |
| Difference, percentage points | −8.7% of its growth | −0.8 pts |
| Fund returned since it listed | −52.0% | −39.9% |
| Difference since it listed | −14.0% of its growth | −0.8 pts |
| Price | $7.39 | $14.78 |
XRPI in plain words
XRPI holds XRP through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the year to Sep 11, 2026, XRP moved −55.4% and XRPI returned −59.3%. That leaves it 8.7% behind once both returns are compounded. Over a window this long the two returns cannot simply be subtracted. Doing it would read −3.9 pts, which is arithmetically correct and describes nothing a holder can act on: what the figure above states is the gap between the two growth factors, so a fund that kept 91% of what holding the coin gave says exactly that. That difference is the fee, the custody cost, the friction of creating and redeeming shares in blocks, and whatever the market paid for the shares rather than for the coin, all of it together. It is the only figure on this page the sponsor does not publish itself. A spot trust is not a registered investment company. It files a 10-K rather than an N-PORT, and its holding is one line: the XRP it custodies.
XRPZ in plain words
XRPZ holds XRP through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the time since it listed to Sep 11, 2026, XRP moved −39.1% and XRPZ returned −39.9%. That leaves it 0.83 of a percentage point behind. XRPZ charges 0.19% a year and finished 0.8% behind XRP, so the fee is less than the whole difference and the rest is what the market paid for the shares, which moved against holders.
Questions people ask
- Which tracked XRP more closely, XRPI or XRPZ?
- Over the days each has traded, XRPI finished 8.7% behind XRP once both returns are compounded and XRPZ 0.83 of a percentage point behind. Those are not set against each other here, because the two windows are not the same days, so neither is nearer its coin than the other on this page. Each difference carries the fee, the custody cost, the friction of creating and redeeming shares in blocks and whatever the market paid for the shares rather than for the coin.
- Do XRPI or XRPZ pay a staking yield?
- What is the difference between XRPI and XRPZ?
- Both hold XRP through a custodian and both trade on an exchange, so what separates them is what each costs a holder over time. XRPI is sponsored by Volatility Shares and listed May 22, 2025; XRPZ by Franklin, listed Nov 24, 2025.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, XRPI against XRPZ, data as of Sep 11, 2026. https://etfiq.com/compare/crypto/XRPI-XRPZ Free to use with attribution; the underlying files are at Open data.