{"id":12418,"date":"2026-08-26T18:48:12","date_gmt":"2026-08-26T18:48:12","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=12418"},"modified":"2026-08-26T18:48:12","modified_gmt":"2026-08-26T18:48:12","slug":"why-xrpr-may-drift-from-xrp","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=12418","title":{"rendered":"Why XRPR may drift from XRP"},"content":{"rendered":"<p><\/p>\n<div data-single-article-content=\"\">\n<p>REX-Osprey\u2019s XRP ETF held 40.25% of its assets in the CoinShares Physical XRP ETP on Aug. 24, routing $22.87 million of a $56.68 million portfolio through another listed product. That structure means XRP ETF fees and trading costs can stack up across two listed products. The same holdings snapshot reported 59.74% as XRP, with 4.7 million XRPR shares outstanding, a $12.09 net asset value and a $12.06 closing price.<\/p>\n<p>That split is not evidence that the CoinShares position lacks XRP backing. CoinShares says its product is 100% physically backed. Nor should XRPR\u2019s XRP line be read as proof that the parent fund directly owns every token: its February shareholder report consolidates a Cayman subsidiary used for XRP exposure.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-558030\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-0153d672-7ff2-434f-95d9-d3e3136820ae.png\" alt=\"Infographic showing XRPR\u2019s Aug. 24, 2026 holdings split, the weighted CoinShares XRP ETP fee estimate, and the fund\u2019s layered exposure path.\" width=\"720\" height=\"900\"\/><img decoding=\"async\" class=\"lazyload aligncenter wp-image-558030\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-0153d672-7ff2-434f-95d9-d3e3136820ae.png\" alt=\"Infographic showing XRPR\u2019s Aug. 24, 2026 holdings split, the weighted CoinShares XRP ETP fee estimate, and the fund\u2019s layered exposure path.\" width=\"720\" height=\"900\"\/><\/p>\n<p>The allocation is consistent with XRPR\u2019s disclosed mandate. Its June 30 prospectus says the fund seeks to keep at least 80% of assets in XRP and instruments providing XRP exposure, while investing at least 40% in securities such as ETFs and non-U.S. exchange-traded products. At 40.25%, the CoinShares sleeve sits just above that floor.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Rex-Osprey hybrid spot XRP ETF makes 2025 record-breaking debut<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<h2>How XRP ETF fees stack up in the second layer<\/h2>\n<p>XRPR discloses a 0.75% total annual operating expense ratio. CoinShares lists a 1.50% annual fee for its XRP ETP. Applying that fee to the Aug. 24 weight produces an estimated 0.60375 percentage-point annual drag inside XRPR before changes in allocation, prices or expenses.<\/p>\n<aside id=\"cs-inline-newsletter-1\" class=\"cs-inline-newsletter\" data-inline-newsletter=\"\" data-newsletter-placement=\"article-midpoint\" data-newsletter-pending-label=\"Joining\u2026\" data-newsletter-pending-status=\"Joining the Daily Brief\u2026\" data-newsletter-email-required-message=\"Before sending, please provide your email address.\" aria-labelledby=\"cs-inline-newsletter-1-title\" aria-describedby=\"cs-inline-newsletter-1-copy\">\n<div class=\"cs-inline-newsletter__inner\">\n<div class=\"cs-inline-newsletter__content\"> <span class=\"cs-inline-newsletter__eyebrow\"> <i class=\"fa-regular fa-envelope\" aria-hidden=\"true\"\/> The Daily Brief <\/span><\/p>\n<h2 id=\"cs-inline-newsletter-1-title\" class=\"cs-inline-newsletter__title\">The signal, before the noise.<\/h2>\n<p id=\"cs-inline-newsletter-1-copy\" class=\"cs-inline-newsletter__copy\">Start your day with the crypto stories moving markets, decoded by CryptoSlate\u2019s editors.<\/p>\n<\/div>\n<div class=\"cs-inline-newsletter__form-shell\">\n<p class=\"cs-inline-newsletter__form-heading\">One email. Everything that matters.<\/p>\n<p id=\"cs-inline-newsletter-1-privacy\" class=\"cs-inline-newsletter__privacy\">Free to join. Unsubscribe any time.<\/p>\n<p> <i class=\"fa-regular fa-circle-xmark\" aria-hidden=\"true\"\/> <span>Whoops, looks like there was a problem. Please try again.<\/span><\/p>\n<p> <i class=\"fa-regular fa-circle-check\" aria-hidden=\"true\"\/> <span><strong>You\u2019re on the list.<\/strong> Your next Daily Brief is on its way.<\/span><\/p>\n<\/div>\n<\/div>\n<\/aside>\n<p>That estimate is not a fixed all-in XRPR fee. The underlying product\u2019s charge is reflected in its own value, while XRPR\u2019s 0.75% is the fund\u2019s disclosed operating expense figure. REX-Osprey\u2019s statement of additional information says shareholders indirectly bear acquired-vehicle fees in addition to the fund\u2019s own expenses, but the weight can change daily and accounting treatment can affect how the cost appears.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Investors poured $82 million into Canary\u2019s XRP ETF, but falling prices erased double what they put in<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>The sleeve can also create tracking differences beyond the stated fee. XRPR investors trade a U.S.-listed ETF, while part of its exposure comes through a Jersey-domiciled debt security listed on European exchanges. CoinShares reported $168.75 million of product assets on Aug. 21, but the XRPR holdings snapshot does not show the position\u2019s current bid-ask spread, market depth or execution price.<\/p>\n<p>Those market frictions matter when XRPR has to rebalance, create or redeem shares, or trade while the underlying venue is less liquid or operating on different hours. The extra security also adds an issuer, custody and trading-venue chain between XRPR and the XRP backing. CoinShares\u2019 physical-backing disclosure addresses the asset backing; it does not eliminate the legal and execution differences between holding XRP exposure through an ETP and obtaining it elsewhere.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">XRP extends the longest active ETF inflow streak in crypto as rival funds struggle for fresh cash<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>For shareholders, the practical impact of XRP ETF fees is return divergence: how closely XRPR\u2019s net asset value follows XRP after its own expenses, the weighted CoinShares fee, and the trading costs of maintaining the required securities sleeve.<\/p>\n<\/div>\n<p>ETF,Featured,Investments,Coinshares,xrpCoinshares,ETF,xrp#XRPR #drift #XRP1787770092<\/p>\n","protected":false},"excerpt":{"rendered":"<p>REX-Osprey\u2019s XRP ETF held 40.25% of its assets in the CoinShares Physical XRP ETP on Aug. 24, routing $22.87 million of a $56.68 million portfolio through another listed product. That structure means XRP ETF fees and trading costs can stack up across two listed products. The same holdings snapshot reported 59.74% as XRP, with 4.7<\/p>\n","protected":false},"author":1,"featured_media":12419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[2330,2314,231,230,6524],"class_list":["post-12418","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum","tag-coinshares","tag-drift","tag-etf","tag-xrp","tag-xrpr"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why XRPR may drift from XRP - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"XRP ETF fees can compound through XRPR\u2019s 0.75% expenses, its CoinShares ETP allocation and trading costs, causing returns to drift from XRP.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=12418\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why XRPR may drift from XRP\" \/>\n<meta property=\"og:description\" content=\"XRP ETF fees can compound through XRPR\u2019s 0.75% expenses, its CoinShares ETP allocation and trading costs, causing returns to drift from XRP.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.uk.com\/?p=12418\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News: Latest Cryptocurrency News and Analysis\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-26T18:48:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/xrpr-layered-xrp-fees.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u884c\u653f\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u884c\u653f\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12418\",\"url\":\"https:\/\/cryptonews.uk.com\/?p=12418\",\"name\":\"Why XRPR may drift from XRP - Crypto News: Latest Cryptocurrency News and Analysis\",\"isPartOf\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12418#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12418#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/xrpr-layered-xrp-fees.jpg\",\"datePublished\":\"2026-08-26T18:48:12+00:00\",\"author\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\"},\"description\":\"XRP ETF fees can compound through XRPR\u2019s 0.75% expenses, its CoinShares ETP allocation and trading costs, causing returns to drift from XRP.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12418#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptonews.uk.com\/?p=12418\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12418#primaryimage\",\"url\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/xrpr-layered-xrp-fees.jpg\",\"contentUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/xrpr-layered-xrp-fees.jpg\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12418#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptonews.uk.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why XRPR may drift from XRP\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptonews.uk.com\/#website\",\"url\":\"https:\/\/cryptonews.uk.com\/\",\"name\":\"Crypto News: Latest Cryptocurrency News and Analysis\",\"description\":\"Latest Crypto &amp; 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