XRP vs XRPZ: which tracked its coin?
Over the window both share, XRP finished 0.43 of a percentage point behind XRP and XRPZ 0.20 behind. Bitwise XRP ETF and Franklin XRP Trust.
XRP since launch: fund −25.96%, XRP −25.45%, 0.51 pts behind XRP.
XRPZ since launch: fund −34.24%, XRP −33.13%, 1.11 pts behind XRP.
A percentile among the 25 spot crypto ETPs listed less than a 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
XRP 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, XRP finished 0.51 of a percentage point behind XRP and XRPZ 1.1 percentage points 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.
Performance, window by window
| Total return | The coin over the same days | Difference, percentage points | ||||
|---|---|---|---|---|---|---|
| Window | XRP | XRPZ | XRP | XRPZ | XRP | XRPZ |
| 1 month | +7.1% | +7.3% | +7.9% | +7.9% | −0.9 pts | −0.7 pts |
| 3 months | +40.5% | +40.6% | +41.6% | +41.6% | −1.1 pts | −1.0 pts |
| 6 months | +10.1% | +10.3% | +10.5% | +10.5% | −0.4 pts | −0.2 pts |
| Since each listed XRP Nov 2025 · XRPZ Nov 2025 | −26.0% | −34.2% | −25.4% | −33.1% | −0.5 pts | −1.1 pts |
XRP and XRPZ over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
XRP and XRPZ on the same fields, as of Sep 30, 2026. Source: ETFIQ.
XRP in plain words
XRP 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 30, 2026, XRP moved −25.4% and XRP returned −26.0%. That leaves it 0.51 of a percentage point behind. 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. XRP charges 0.34% a year and finished 0.5% 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. 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 30, 2026, XRP moved −33.1% and XRPZ returned −34.2%. That leaves it 1.1 percentage points behind. XRPZ charges 0.19% a year and finished 1.1% 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, XRP or XRPZ?
- Over the days each has traded, XRP finished 0.51 of a percentage point behind XRP and XRPZ 1.1 percentage points 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 XRP or XRPZ pay a staking yield?
- The XRP Ledger settles by a consensus its validators are not paid for, so there is nothing to stake and no fund holding XRP can pay a staking yield.
- What is the difference between XRP 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. XRP is sponsored by Bitwise and listed Nov 20, 2025; XRPZ by Franklin, listed Nov 24, 2025.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, XRP against XRPZ, data as of Sep 30, 2026. https://etfiq.com/compare/crypto/xrp-vs-xrpz
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, XRP against XRPZ, data as of Sep 30, 2026. https://etfiq.com/compare/crypto/xrp-vs-xrpz Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, XRP against XRPZ, data as of Sep 30, 2026. https://etfiq.com/compare/crypto/xrp-vs-xrpz
- APA
- ETFIQ. (Sep 30, 2026). XRP against XRPZ. Retrieved from https://etfiq.com/compare/crypto/xrp-vs-xrpz
- Markdown
- [XRP against XRPZ (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/crypto/xrp-vs-xrpz)