The XXRP ETF is a leveraged fund designed to deliver twice (2×) the daily price performance of XRP, before fees and expenses. Rather than holding XRP outright, the fund achieves its exposure through derivative instruments such as swap agreements and cash-settled XRP futures contracts.

Launched on April 8, 2025, and trading on the NYSE Arca, XXRP is intended for short-term, high-conviction investors who want amplified exposure to XRP market moves in a regulated ETF format.

The fund has a total annual expense ratio of approximately 1.89% and is non-diversified. Because XXRP resets its leverage daily, its returns over periods longer than one day may deviate significantly from exactly 2× the cumulative return of XRP, due to compounding, volatility, and the effects of daily rebalancing.

Its strategy includes exposure to XRP-related derivatives rather than actual token holdings. This introduces additional risks, such as counterparty risk, volatility risk, tracking error, and the possibility of losing a substantial portion of capital in short time frames.