Nasdaq-Listed XRPC Trust Offers XRP Exposure Through Standard Brokerage Accounts

A new way for investors to gain exposure to XRP has emerged in the form of the Canary XRP Trust (XRPC), now listed on the Nasdaq. The trust holds XRP and issues shares that trade on the exchange, allowing investors to buy into XRP without needing a cryptocurrency wallet or exchange account.

The XRPC Trust aims to track the value of XRP minus the expenses of running the trust, with a sponsor fee of 0.5% per year. Investors own shares of the trust, not XRP itself, and do not have direct token-holder rights. The shares may trade at a premium or discount to the XRP they represent.

Fire Hustle highlights that this product offers a unique benefit: it can be held in tax-advantaged accounts like IRAs where platforms permit it. However, she also notes several structural caveats, including the fact that XRPC is not a commodity pool and does not operate under mutual-fund or traditional ETF rules.

Despite these nuances, Fire Hustle believes this new product could be an attractive option for investors looking to gain exposure to XRP without the complexities of cryptocurrency markets. She also highlights Ripple's institutional push, citing over 75 regulatory licenses globally and $3.5 billion in tokenized real-world assets. However, she also outlines a bear case that XRPC may not capture as much value as holders expect.