XRPT — 2x XRP ETF
Data updated: 2026-09-02
XRPT — 2x XRP ETF. Leveraged · $66.62M AUM · 3.13% expense ratio · -85.1% 1-yr return. Holdings, fees, performance and SEC filings.
XRPT Fund Overview
XRPT — 2x XRP ETF is a US ETF managed by Volatility Shares Trust, categorised as Leveraged. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Volatility Shares Trust
- Category: Leveraged
- Assets under management: $66.62M
- 1-year return: -85.1%
- Ticker: XRPT
- SEC CIK: 0001884021
- SEC series ID: S000092517
- Share class ID: C000260548
XRPT Investment Objective and Strategy
2x XRP ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Volatility Shares Trust.
Investment objective
The 2x XRP ETF (the Fund or XRPT) seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of XRP. The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Principal investment strategy
XRP is a digital asset that is created and transmitted through the operations of the XRP Ledger, a decentralized and public ledger upon which XRP transactions are processed and settled. The Fund is an exchange -traded fund (ETF) that seeks to achieve its investment objective primarily through managed exposure to XRP futures contracts that trade only on an exchange registered with the CFTC (XRP Futures Contracts), and cash, cash -like instruments or high -quality securities that serve as collateral to the Funds investments in XRP Futures Contracts (Collateral Investments). In this manner, the Fund seeks to provide investment results that correspond to twice the performance of XRP for a single day. The Fund does not invest directly in XRP. Instead, the Fund seeks to benefit from increases in the price of XRP Futures Contracts for a single day.
Under normal circumstances, the Fund will invest at least 80% of the value of its net assets (plus borrowings for investment purposes) in XRP -Linked Instruments. For purposes of this policy, XRP -Linked Instruments means: (i) XRP Futures Contracts; (ii) shares of other XRP -linked exchange -traded products registered under the Securities Act of 1933 (the 1933 Act), but not registered as investment companies (XRP -Linked ETPs) under the Investment Company Act of 1940 (the 1940 Act); (iii) shares of other investment companies registered under the 1940 Act that invest in similar assets to those in which the Fund may invest (Other Investment Companies); (iv) exchange -traded option contracts on shares of XRP -Linked ETPs or Other Investment Companies; and (v) swap agreement transactions that reference XRP, XRP Futures Contracts, XRP -Linked ETPs, Other Investment Companies or XRP -referenced indexes.
For purposes of the Funds investment objective, under normal circumstances, the Fund will use the price of XRP that is reflected in the next, or second to next, expiring XRP Futures Contract. If the Fund invests in other XRP -Linked Instruments, the value of XRP will be determined by an average of how XRP is valued in the financial instruments in which the Fund invests. The investment adviser to the Fund and the XRPT Subsidiary is Volatility Shares LLC (the Adviser). The Adviser oversees the Fund and implements the day -to-day portfolio management responsibilities for the Fund. In serving as investment adviser to the Fund, the Adviser does not conduct conventional investment research or analysis or forecast market movement or trends. The Fund is classified as a non -diversified company under the 1940 Act.
The Fund will not concentrate its investments in securities of issuers in any industry or group of industries, as the term concentrate is used in the 1940 Act, except that the Fund may invest more than 25% of its total assets in investments that provide exposure to XRP and/or XRP Futures Contracts. The XRP Ledger and XRP XRP is a digital asset that is created and transmitted through the operations of the XRP Ledger, a decentralized ledger upon which XRP transactions are processed and settled. The XRP Ledger is a shared public ledger, similar to the Bitcoin network. However, the XRP Ledger differentiates itself from other digital asset networks in that its stated primary function is transactional utility, not store of value. The XRP Ledger is designed to be a global real -time payment and settlement system.
XRP can be used to pay for goods and services or it can be converted to fiat currencies, such as the U.S. dollar. As a result, the XRP Ledger and XRP aim to improve the speed at which parties on the network may transfer value while also reducing the fees and delays associated with the traditional methods of interbank payments. Unlike a centralized system, no single entity controls the XRP Ledger. Instead, a network of independent nodes validates transactions pursuant to a consensus -based algorithm (the Consensus -Based Mechanism). It is this mechanism, as opposed to the proof -of-work mechanism utilized by the Bitcoin blockchain, that allows the XRP Ledger to be fast, energy -efficient and scalable, and therefore suitable for its most prominent use case, the facilitation of cross -border financial transactions.
Proponents of this Consensus -Based Mechanism often cite several key advantages it offers. The first is near -instantaneous settlement of transactions, which normally occurs within 3 5 seconds. The second is energy efficiency. Unlike proof -of-work systems, which require massive computational power to secure the network, the Consensus -Based Mechanism is relatively light in terms of energy usage, as it relies on trusted validators rather than mining. A third advantage is scalability. The XRP Ledger can handle up to 1,500 transactions per second, far more than the Bitcoin or Ethereum blockchain. This makes the XRP Ledger an attractive option for high -volume use cases, such as cross -border payments. Lastly, because validators do not need to spend resources on mining, transaction fees are extremely low (typically a fraction of a cent per transaction).
Transactions are validated on the XRP Ledger by a network of independent validator nodes. These nodes do not mine new blocks but participate in a consensus process to ensure that transactions are valid and correctly ordered on the XRP Ledger. Any node can be a validator, but for practical purposes, the XRP Ledger depends on a list of trusted validators known as the Unique Node List or UNL. Validators are entities (which can be individuals, institutions, or other organizations) that run nodes to participate in the consensus process. These validators ensure the integrity and accuracy of the ledger. Each node in the network maintains a Unique Node List a list of other validators that the node trusts to reliably validate transactions. The XRP Ledgers decentralized architecture means that different nodes may maintain different UNLs, but there needs to be some overlap in the UNLs for the consensus mechanism to work effectively.
A transaction on the XRP Ledger begins when a user submits a transaction to the XRP Ledger network. The submitted transaction is broadcast to all validator nodes. Validators do not immediately confirm transactions as final; instead, they go through a process of reaching consensus on which transactions should be included in the next ledger version. Each validator collects incoming transactions into a proposed ledger, called a candidate ledger, and then exchanges their proposed candidate ledgers (also known as proposals) with other validators. The actual consensus process happens over several rounds. In each round, validators attempt to come to an agreement on which transactions should be included in the next ledger version. In each round, validators examine the transactions in the proposed ledger from the previous round and compare it to the proposals from other validators in their UNL.
If the validator sees that a supermajority (typically 80% of validators) of trusted validators have proposed the same set of transactions, the validator updates its proposal to align with the majority. After a few rounds of exchanging proposals, when a supermajority (typically 80%) of validators have agreed on the same set of transactions, that version of the ledger is considered valid. All participating validators then update their copy of the ledger with the new, agreed -upon transactions. The final ledger version is broadcast to all nodes, and it becomes the new official state of the ledger. Development and maintenance of the source code for the XRP Ledger is largely driven by a community of developers and contributors. Ripple Labs is influential, for example, as it employs a team of engineers and developers who contribute significantly to the core codebase of the XRP Ledger.
The XRP Ledger Foundation is also influential as it relates to the development and governance of the XRP Ledger. The XRP Ledger Foundation is an independent organization established to support the development and adoption of the XRP Ledger. The XRP Ledger has historically maintained high availability but has experienced notable disruptions. On February 4, 2025, the XRP Ledger experienced an unexpected halt in block production for approximately 64 minutes. During that time no new ledgers were validated, temporarily pausing all transactions. On November 25, 2024, the XRP Ledger faced a disruption of approximately 10 minutes when several nodes crashed and restarted simultaneously, briefly halting transaction processing. No asset losses have occurred during these incidents, and built -in safety protocols ensured network recovery in both cases.
Unlike other digital assets such as bitcoin or ether, XRP was not and is not mined gradually over time. Instead, all 100 billion XRP tokens were created at the time of the XRP Ledgers launch in 2012. This means that every XRP token that exists today was generated from the outset, without the need for a mining process. Of the 100 billion XRP generated by the XRP Ledgers code, the founders of Ripple Labs retained 20 billion XRP and the rest, nearly 80 billion XRP, was provided to Ripple Labs. In 2017, Ripple Labs introduced an escrow mechanism to control the release of its XRP holdings. Under this mechanism, Ripple Labs placed 55 billion XRP (55% of the total supply) into a series of time -locked escrow accounts that release 1 billion XRP per month over 55 months. XRP Futures Contracts In order to obtain 2x daily exposure to XRP, the Fund intends to typically enter into cash -settled XRP Futures Contracts as the buyer, except as detailed below.
In simplest terms, in a cash -settled futures market the counterparty pays cash to the buyer if the price of a futures contract goes up, and buyer pays cash to the counterparty if the price of the futures contract goes down. In order to maintain its 2x daily exposure to XRP, the Fund intends to exit its futures contracts as they near expiration and replace them with new futures contracts with a later expiration date. Futures contracts with a longer term to expiration may be priced higher than futures contracts with a shorter term to expiration, a relationship called contango. When rolling futures contracts that are in contango the Fund will close its long position by selling the shorter term contract at a relatively lower price and buying a longer -dated contract at a relatively higher price.
The presence of contango will adversely affect the performance of the Fund. Conversely, futures contracts with a longer term to expiration may be priced lower than futures contracts with a shorter term to expiration, a relationship called backwardation. When rolling long futures contracts that are in backwardation, the Fund will close its long position by selling the shorter term contract at a relatively higher price and buying a longer -dated contract at a relatively lower price. The presence of backwardation may positively affect the performance of the Fund. Further, the returns of the Funds XRP Futures Contracts may differ from that of XRP due to the divergence in the prices or the costs associated with investing in futures contracts, which may negatively impact the Funds returns. The Fund invests in XRP Futures Contracts indirectly via the XRPT Subsidiary.
The XRPT Subsidiary and the Fund will have the same investment adviser and investment objective. The XRPT Subsidiary will also follow the same general investment policies and restrictions as the Fund. Except as noted herein, for purposes of this Prospectus, references to the Funds investment strategies and risks include those of the XRPT Subsidiary. The Fund complies with the provisions of the 1940 Act governing investment policies and capital structure and leverage on an aggregate basis with the XRPT Subsidiary.
XRPT Holdings
Top 6 holdings of 2x XRP ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Treasury Bill | 374.45% |
| Treasury Bill | 374.45% |
| Treasury Bill | 374.45% |
| US Bank Money Market Deposit Account | 5.86% |
| US Bank Money Market Deposit Account | 5.86% |
| US Bank Money Market Deposit Account | 5.86% |
XRPT Portfolio Allocation
Asset-class allocation of 2x XRP ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 1123.3% |
| Cash & Equivalents | 17.6% |
XRPT Performance
Total returns for XRPT (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -62.5% |
| 1 year | -85.1% |
XRPT Risk Information
Risk metrics for XRPT, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 93.3%
XRPT Costs and Fees
XRPT costs about $313 per $10,000 invested per year in fund expenses.
- Net expense ratio: 3.13%
- Gross expense ratio: 3.13%
- Portfolio turnover: 0%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
XRPT Cashflows
Over the 12 months to 2026-05, 2x XRP ETF had net inflows of $342.43M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | $3.36M |
| 2026-04 | $1.92M |
| 2026-03 | $880.12K |
| 2026-02 | $19.03M |
| 2026-01 | $32.74M |
| 2025-12 | $9.44M |
XRPT Debt Constituents
Largest debt holdings of 2x XRP ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Treasury Bill | 374.45% |
| Treasury Bill | 374.45% |
| Treasury Bill | 374.45% |
XRPT Prospectus and SEC Filings
Official 2x XRP ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Leveraged funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.