Which XRP ETF Is the Biggest? One Fund Holds More Than a Third of the Money.

The title of the biggest XRP ETF is currently held by the Bitwise XRP ETF (NYSE: XRP), which has pulled well ahead of its four competitors. This fund boasts approximately $561 million in assets, accounting for more than a third of the total $1.53 billion held across US spot XRP ETFs on October 15, 2026, according to SoSoValue. This figure puts Bitwise ahead by over $150 million compared to any other issuer.

As of October 17, XRP (CRYPTO: XRP) trades at $1.31, down 7.1% over the past week from $1.40 on October 10. While the coin is up 30.3% over the last two months, it remains down 29.1% for the year. In this context, how do other ETFs stack up, and what does a fund’s size mean for potential buyers?

Bitwise Holds More Than a Third of All XRP ETF Money

Bitwise’s $561 million represents about 37% of the total $1.53 billion across US spot XRP ETFs. Spot ETFs directly hold the cryptocurrency, so each share is designed to track XRP’s price. This lets investors buy shares through a regular brokerage account without managing a wallet or private keys.

This substantial lead of over $150 million indicates a strong preference among ETF buyers for one fund, even though all five funds hold the same underlying asset.

However, fund assets can fluctuate with XRP’s price. A notable 43.1% decline over the past year has affected the dollar totals for all the funds, even if shareholders retain their shares.

Franklin Offers the Lowest Fees Among XRP ETFs

According to SoSoValue, five US spot XRP ETFs exist. Below is a table listing each fund’s exchange and expense ratio based on our latest review from June:

Interestingly, while Bitwise leads in size, it isn’t the most cost-effective option. Franklin XRP ETF has the lowest annual fee at 0.19%, compared to Bitwise’s 0.34%. For every $1,000 invested, that’s a $1.50 difference per year. It’s worth noting that fund managers can adjust fees, so it’s always good to check the latest figures on each fund’s page.

Size, Fees and Liquidity Shape the Cost of Owning an XRP ETF

The expense ratio is the annual fee a fund charges, expressed as a percentage of your investment, and it is deducted directly from the fund’s assets. A lower expense ratio lets investors keep more of the returns, and over time, that difference can compound significantly

Liquidity is another key factor, as it indicates how easily you can buy or sell shares without affecting the price. Generally, larger funds tend to have higher trading volumes, which typically keeps the bid-ask spread narrow.

The bid-ask spread is the gap between the highest price buyers will pay and the lowest price sellers will accept, making it a key consideration for active traders rather than long-term investors.

Smaller funds may carry additional risks; if they fail to attract enough assets, an issuer might close the fund, unexpectedly forcing shareholders to exit. In contrast, Bitwise’s $561 million suggests validation from advisers and platforms, even if its fee structure is less competitive than Franklin’s.

Are Buyers Committing to the Biggest XRP ETF?

For now, it seems so. The Bitwise ETF has drawn significant interest, holding over a third of all XRP ETF assets, while overall fund totals have remained stable. As of October 15, US spot XRP ETFs saw a minor net outflow of about $105,000, small compared with the $1.53 billion total, suggesting most investors are holding steady even as XRP’s price has declined. However, choosing the largest fund comes with higher fees than Franklin’s.

Bitwise’s growth potential could continue if new investments consistently favor the largest fund. However, a competitor could reduce this lead by lowering fees. If XRP closes back above $1.40 and the funds see positive daily flows again, total assets could increase. On the other hand, if XRP’s price keeps falling and more investors withdraw funds, total assets could decrease, but Bitwise’s lead might still hold. We explore XRP’s potential in our free XRP breakdown.

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