The first U.S. spot XRP exchange-traded fund (ETF) has recorded a steep decline since its debut, in line with the asset’s muted performance following its launch.
Launched in September 2025 on the Cboe BZX Exchange, the REX-Osprey XRP ETF (XRPR) marked a milestone by offering regulated exposure to XRP without requiring direct ownership.
Its debut paved the way for a new wave of similar products, with firms such as Bitwise, Franklin Templeton, Grayscale, and 21Shares launching competing funds, bringing the total number of spot XRP ETFs to seven across major brokerages.
Despite its pioneering role, the REX-Osprey product has struggled to maintain momentum. The fund closed at $11.81 on April 25, representing a 54% drop from its launch price.
Losses have persisted across multiple time frames, with the ETF down 42.89% over the past six months and 23.66% year-to-date. While it has shown modest short-term recovery, including a 1.03% daily gain and a 0.94% rise over the past mont
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