Here’s how America’s first XRP ETF has performed so far 

The United States’ first spot XRP exchange-traded fund (ETF) has been live for just under two weeks, showing modest weakness since its debut.

Specifically, the REX-Osprey XRP ETF (XRPR) launched on September 18 at $25.83. By press time, it was trading at $24.15, a decline of about 6.5% since launch.

This pullback mirrors a common trend seen with newly listed crypto ETFs, where early liquidity, market-making activity, and initial trading flows often create short-term volatility.

Notably, the REX-Osprey XRP ETF received expedited approval due to its unique regulatory structure. Unlike traditional spot crypto ETFs, which can take up to 240 days for SEC review under the Securities Act of 1933, REX-Osprey was structured under the Investment Company Act of 1940, shortening the review to around 75 days.

The SEC’s recent adoption of generic listing standards for commodity-based ETFs on major exchanges like Nasdaq, Cboe BZX, and NYSE Arca further streamlined approvals, eliminating the need for individual applications under Section 19(b) of the Securities Exchange Act of 1934.

Despite the slow start, XRPR’s listing marks a milestone for U.S. markets, offering mainstream access to XRP through traditional brokerage accounts.

Before the U.S. launch, both Brazil and Canada had already introduced spot XRP ETFs in 2025. Brazil’s Hashdex Nasdaq XRP Fund began trading in April on the B3 exchange, becoming the world’s first regulated spot XRP ETF. 

In June, Canadian issuers such as Purpose Investments and Evolve followed suit with launches on the Toronto Stock Exchange, giving investors earlier exposure through regulated products.

Pending U.S. spot XRP ETFs

The REX-Osprey fund is not the only XRP ETF in the works. Several major asset managers have pending applications with the Securities Exchange Commission (SEC), with decisions expected in the coming weeks. 

Broader approvals could significantly expand institutional access to XRP, echoing the effect seen when spot Bitcoin and Ethereum ETFs won regulatory clearance.

If more U.S. spot XRP ETFs are approved, alongside potential derivatives such as futures and options on CME, analysts expect stronger inflows that could support long-term price growth. 

However, short-term performance may remain volatile, as shown by XRPR’s initial 6.5% decline.

At press time, XRP was trading at $2.93, up about 3.5% over the past 24 hours, though down 0.68% on the week.