Key Takeaways
- • An October 5, 2026 SEC filing shows the Grayscale XRP Trust ETF (NYSE Arca: GXRP) has added Anchorage Digital as a custodian alongside primary custodian Coinbase Custody.
- • GXRP can now process in-kind creations and redemptions, letting authorized participants exchange XRP directly for ETF shares rather than relying solely on cash, effective September 29, 2026.
- • Grayscale has not disclosed how much XRP it will move to Anchorage, and the arrangement does not replace Coinbase.
- • U.S. XRP funds collectively held approximately 1.13 billion XRP worth $1.68 billion as of September 29, according to previously reported holdings data.
Summary
An October 5 SEC filing confirms that the Grayscale XRP Trust ETF, trading on NYSE Arca under the ticker GXRP, can now hold a portion of its XRP with Anchorage Digital, according to the publication. Coinbase Custody remains the fund's primary custodian. Grayscale signed the Anchorage Digital custody amendment on September 29, making the federally chartered digital asset bank an additional safeguarding provider for the fund's underlying XRP.
Grayscale described the move as part of its risk management approach as the trust grows. The company has not determined how much XRP it will transfer to Anchorage. According to the filing, Anchorage must generally maintain the private keys associated with its XRP holdings in cold storage, with limited hot-wallet use permitted for operations such as settling share creations, redemptions and fund expenses.
The custody expansion follows growing institutional interest in XRP ETFs. U.S. funds collectively held approximately 1.13 billion XRP worth $1.68 billion as of September 29, according to previously reported holdings data. The existing 21Shares XRP ETF already uses Coinbase, BitGo and Anchorage for custody, indicating a broader industry approach to multi-custodian arrangements.
The filing also introduces a second operational change. Effective September 29, authorized participants or their designated counterparties can create and redeem GXRP shares by delivering or receiving XRP directly. Previously the fund relied on cash-based transactions. An in-kind creation involves delivering eligible XRP in exchange for newly issued ETF shares, which can reduce the need for additional market purchases or sales during routine fund operations. Actual transaction costs will depend on trading conditions and the fund's operating arrangements.
Grayscale described the move as part of its risk management approach as the trust grows. The company has not determined how much XRP it will transfer to Anchorage. According to the filing, Anchorage must generally maintain the private keys associated with its XRP holdings in cold storage, with limited hot-wallet use permitted for operations such as settling share creations, redemptions and fund expenses.
The custody expansion follows growing institutional interest in XRP ETFs. U.S. funds collectively held approximately 1.13 billion XRP worth $1.68 billion as of September 29, according to previously reported holdings data. The existing 21Shares XRP ETF already uses Coinbase, BitGo and Anchorage for custody, indicating a broader industry approach to multi-custodian arrangements.
The filing also introduces a second operational change. Effective September 29, authorized participants or their designated counterparties can create and redeem GXRP shares by delivering or receiving XRP directly. Previously the fund relied on cash-based transactions. An in-kind creation involves delivering eligible XRP in exchange for newly issued ETF shares, which can reduce the need for additional market purchases or sales during routine fund operations. Actual transaction costs will depend on trading conditions and the fund's operating arrangements.
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