Inside Bitwise’s XRP ETF: 0.34% Fee, Coinbase Custody and BNY Mellon

A Sept. 18 SEC filing confirms that the Bitwise XRP ETF is listed on NYSE Arca under the ticker XRP and is designed to provide exposure to XRP held directly by the trust.

Bitwise currently lists the fund with approximately $616.4 million in assets under management, a 0.34% expense ratio, and an inception date of Nov. 19, 2025.

That makes the latest filing an update to an existing product rather than a new XRP ETF launch — a distinction Coinpaper recently examined in its coverage of the Sept. 18 Bitwise filing and XRP’s 7.7% move.

Coinbase Custody Holds the XRP

The crypto side of the ETF is handled by Coinbase Custody Trust Company.

According to the prospectus, Coinbase Custody serves as the trust’s XRP custodian and is responsible for safeguarding the XRP owned by the fund. It also manages the XRP accounts used for the ETF’s operations and facilitates transfers when required.

Investors therefore do not need to manage wallets, exchanges or private keys themselves.

Instead, they buy NYSE Arca-listed ETF shares whose value is designed to reflect the XRP held by the trust, minus fees and other fund liabilities.

The ETF calculates its NAV using the CME CF XRP-Dollar Reference Rate – New York Variant, giving the fund a standardized benchmark rather than relying on a single crypto exchange.