Monitor for future filings indicating the amount of XRP moved to Anchorage Digital and any progress toward In-Kind Regulatory Approval, which would further enhance the fund's arbitrage mechanism and potentially narrow premium/discount spreads.
Price Chart
Executive Summary
Grayscale XRP Trust ETF (GXRP) filed an 8-K on September 29, 2026, announcing two key operational developments: (1) amendments to Authorized Participant Agreements with Macquarie Capital (USA) Inc. and Virtu Americas LLC enabling in-kind creations and redemptions of shares, supplementing the existing cash-only process; and (2) the addition of Anchorage Digital Bank N.A. as a secondary custodian for a portion of the Trust's XRP holdings, alongside primary custodian Coinbase Custody Trust Company, LLC. These changes improve the fund's operational efficiency and risk management infrastructure as it grows.
Key Facts
- Amendments to Participant Agreements with Macquarie Capital (USA) Inc. and Virtu Americas LLC allow in-kind creations and redemptions of GXRP shares, supplementing the existing cash-only process.
- Grayscale XRP Trust ETF entered into a custody agreement with Anchorage Digital Bank N.A., a national trust bank chartered by the OCC, as an additional custodian for a portion of its XRP holdings.
- Coinbase Custody Trust Company, LLC remains the Trust's primary custodian; the Sponsor has not yet determined the amount of XRP to be moved to Anchorage Digital.
- The Anchorage Digital Custodian Agreement includes a $100 million aggregate commercial crime insurance or fidelity bond requirement covering digital assets held in cold storage.
- The in-kind creation/redemption capability is subject to In-Kind Regulatory Approval, which has not yet been obtained; currently only cash orders are available.
Financial Impact
No financial figures disclosed; the addition of a second custodian and in-kind creation/redemption capability are operational improvements with no stated dollar impact.
Risk Factors
- In-kind creation/redemption capability remains subject to regulatory approval and is not yet operational.
- The Sponsor has not disclosed the portion of XRP to be held at Anchorage Digital, creating uncertainty about custodian concentration.
- Custody agreements contain standard limitations of liability and disclaimers that could affect recovery in the event of asset loss.
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-414265 |
| Document: ck0002037427-ex99_1.htm | 0001193125-26-414265 |
| Document: ck0002037427-20260929.htm | 0001193125-26-414265 |
| Document: ck0002037427-ex10_1.htm | 0001193125-26-414265 |
| Document: ck0002037427-ex10_3.htm | 0001193125-26-414265 |
| Document: 0001193125-26-414265-index-headers.html | 0001193125-26-414265 |
| Document: 0001193125-26-414265-index.html | 0001193125-26-414265 |
| Document: 0001193125-26-414265.txt | 0001193125-26-414265 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | 8-K | $29.12 | awaiting T+20 | — | $25.52 (−12.36%) |
Apr 17, 2026 27w ago | EFFECT | $28.90 $29.51 | ▲ +2.11% | ▼ −3.26% | $25.52 (−11.69%) |
US Market Status
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