What does the Bitwise XRP ETF prospectus filed with the SEC say about fees and custody?

Confirmed Published October 7, 2026 2 min read

Bitwise Investment Advisers, LLC sponsors and manages the Bitwise XRP ETF, whose shares are listed on NYSE Arca under the ticker XRP. Coinbase Custody Trust Company, appointed by the sponsor, holds the trust’s XRP in segregated accounts, according to the trust’s Form 424B3 prospectus filed with the SEC.

The full answer

What fee does the Bitwise XRP ETF charge?

The Bitwise XRP ETF said in its quarterly report, published in May 2026, that sponsor fee payments are calculated at an annual rate of 0.34% of the trust’s XRP holdings [1]. That is a charge on the XRP the trust holds, not a fee paid per trade.

NerdWallet’s comparison, current as of September 28, 2026, shows the same 0.34% for the Bitwise fund. It places the fund third-cheapest of six US spot XRP ETFs in NerdWallet’s table, current as of September 28, 2026, with Franklin at 0.19%, 21Shares at 0.30%, Grayscale at 0.35%, Canary at 0.50% and REX-Osprey at 0.75% [3].

Who holds the XRP?

The trust’s report for the quarter ended March 31, 2026 states that Coinbase Custody was appointed by the sponsor to establish and maintain segregated accounts that hold the trust’s XRP [1]. Segregated accounts keep the trust’s coins apart from the custodian’s own assets.

What was filed on September 28 and after?

Stock Titan’s filing overview, dated September 30, 2026, lists 6 recent filings for the Bitwise XRP ETF. They include 2 Form 10-Q, 1 Form EFFECT, 1 Form 424B3 and 1 Form POS AM. The most recent was submitted on September 29, 2026 [2]. A Form 424B3 is a prospectus filed under Rule 424(b)(3).

The trust had also filed a post-effective amendment to its Form S-1. Stock Titan describes it as adopting incorporation by reference and updating earlier disclosure, including the 2025 annual report and 2026 quarterly reports. No additional securities are being registered [4]. A prospectus filed this way carries forward terms already disclosed. That supports reading the 0.34% fee and the Coinbase Custody arrangement as continuing terms, not new ones.

What is not settled?

As of October 7, 2026, the prospectus wording on listing venue is not quoted here, and no change to fee or custody terms since the May 2026 report has been announced. The exact wording is in the filing on SEC EDGAR.

Where does this fit in the wider XRP picture?

The fund is one of several US spot XRP products that arrived after the SEC’s case against Ripple. The background is in what the SEC vs Ripple lawsuit was about and the question of whether XRP is a security. Whether those conditions could change is covered in whether a future US government could reverse XRP’s regulatory position. A fund’s fee says nothing about how much XRP trading is available to support real payments, which is the question in how much XRP liquidity it would take to settle a share of global payments.

What we know

The trust’s SEC filing states: “The Trust is sponsored and managed by Bitwise Investment Advisers, LLC (the “Sponsor”).”" [5]
In its quarterly report published in May 2026, the Bitwise XRP ETF said sponsor fee payments are calculated at an annual rate of 0.34% of the trust’s XRP holdings.
In its report for the quarter ended March 31, 2026, the trust said Coinbase Custody was appointed by the sponsor to establish and maintain segregated accounts that hold the trust’s XRP.
As of September 30, 2026, Stock Titan listed 6 recent SEC filings for the Bitwise XRP ETF, including 1 Form 424B3, and gave September 29, 2026 as the date of the most recent filing.
NerdWallet’s comparison of US spot XRP ETFs, current as of September 28, 2026, listed the Bitwise XRP ETF (XRP) at a 0.34% net expense ratio, between 21Shares TOXR at 0.30% and Grayscale GXRP at 0.35%.

What we reason Analysis

The 0.34% in the trust’s quarterly report and the 0.34% in NerdWallet’s September 28, 2026 table match, so the fee in a later prospectus is unlikely to differ. That inference rests on those two published figures only.

What's still open

As of October 7, 2026, the exchange listing wording of the Rule 424(b)(3) prospectus on NYSE Arca is not quoted in any public source I could cite here.
As of October 7, 2026, Bitwise has not announced a fee waiver or any change to the 0.34% rate.

In plain English

Bitwise runs a fund that holds XRP so people can buy it through a regular stock account. The fund’s own reports say it charges 0.34% a year on the XRP it holds. They also say Coinbase Custody keeps that XRP in separate accounts for the fund. A new prospectus, which is the fund’s sales document, appeared in its list of filings at the end of September 2026.

Sources

Bitwise XRP ETF quarterly report (10-Q) — Stock Titan, republishing the SEC filing, 2026-05 Primary
Bitwise XRP ETF filings overview — Stock Titan, 2026-09-30 Primary
11 SEC-Approved XRP ETFs (Fees and Promotions Included) — NerdWallet, 2026-09-28 Secondary
Bitwise XRP ETF SEC filings — Stock Titan, 2026 Primary
Bitwise XRP ETF Prospectus Filed Under Rule 424(b)(3) — sec.gov, 2026-09-28 Primary
Bitwise XRP ETF Prospectus (S-1/A) — Bitwise Investment Advisers, LLC / SEC EDGAR, October 31, 2025 Primary

Update log

October 7, 2026 — Published.

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