Evolve lists one of the first North American XRP ETFs while expanding its unique crypto portfolio ETF to include XRP

Just Launched: Evolve XRP ETF (XRP, XRP.U)

CF Benchmarks congratulates Evolve ETFs on the latest milestones in its mission to provide investors with simple, efficient and secure ways to access cryptocurrencies.

Evolve XRP ETF now trading

Canadian investors and institutions now have access to the Evolve XRP ETF—a regulated, transparent, and secure solution for direct XRP exposure, trading on the Toronto Stock Exchange (TSX) under the tickers XRP (for the Canadian dollar unhedged units) and XRP.U (for the U.S. dollar units).

Note, these are units of the same underlying fund, with one unitary CUSIP: 299935114.

The new fund delivers direct exposure to XRP, held in secure institutional custody and acquired via established platforms and counterparties.

No leverage, derivatives, or complex overlays are used. Investors will own a fund backed by “physical” XRP, with daily NAV calculated on the basis of the regulated CME CF XRP-Dollar Reference Rate (XRPUSD_RR), which is published and administered by Evolve’s longstanding index partner, CF Benchmarks.

Convenience and safety

XRP/XRP.U’s dual-currency options (CAD and USD), and fully passive management are designed to reduce both operational complexity and investor risk. Meanwhile, the omission of active hedging or routine currency conversion, make the ETF straightforward for both Canadian and international allocators.

Why XRP?

XRP powers the XRP Ledger (XRPL)—a decentralized, carbon-efficient layer-1 blockchain founded in 2012 by the founders of Ripple Labs, Inc.

Purpose-built for real-world, high-volume, cross-border value transfer, XRP has powered more than $1 trillion in transactions and is deployed for payments, institutional remittance, and sophisticated tokenization.

With a market value of approximately $143 billion (May 2025), XRP is cemented as a foundational digital asset. Its uniquely fast settlement and low transaction costs offer real utility—qualities increasingly recognized by institutional allocators.

Regulated benchmark: XRPUSD_RR

The launch of Evolve XRP ETF, Evolve’s seventh crypto exchange traded product, also marks the expansion of its partnership with CF Benchmarks, the provider of the fund’s regulated benchmark index:

CME CF XRP-Dollar Reference Rate (XRPUSD_RR)

CF Benchmarks is proud to note that Evolve ETFs is our longest standing investment management client, utilizing our regulated benchmark methodology to calculate the net asset value (NAV) of all of its crypto ETFs.

XRPUSD_RR is a once-a-day benchmark index price for XRP. It aggregates trade data from multiple XRP-USD markets operated by major cryptocurrency exchanges that conform to CF Benchmarks’ rigorous regulatory requirements.

Like all CF Benchmarks pricing sources, XRPUSD_RR is underpinned by CF Benchmarks’ status as the first and leading cryptocurrency Benchmark Administrator, authorized and regulated by the UK FCA under the UK Benchmarks Regulation framework (BMR).

XRPUSD_RR is a Registered Benchmark under UK BMR, and a Third Country benchmark, under the EU's Benchmarks Regulation framework.

The index is the preeminent index price for XRP risk settlement, underpinned by the methodology utilized for the settlement of CME Group XRP futures, the primary CFTC-regulated Designated Contract Market (DCM) for XRP.

XRP joins Evolve Cryptocurrencies ETF

Evolve’s unique passively managed crypto portfolio – Evolve Cryptocurrencies ETF (ETC)—already trusted for providing diversified access to Bitcoin, Ethereum, and Solana—is expanding to include XRP.

ETC remains one of the very few pure-play spot cryptocurrency portfolio ETFs available in North America.

ETC now offers market cap–weighted exposure to Bitcoin, Ether, Solana and XRP, in a single ETF; with monthly rebalancing – providing an easy way to access crypto through a brokerage account.

Evolve Cryptocurrencies ETF's underlying funds consist of the following Evolve funds, each of which track a regulated CF Benchmarks Reference Rate:

Evolve Bitcoin ETF (EBIT)
Evolve Ether ETF (ETHR)
Evolve Solana ETF (SOLA)
Evolve XRP ETF (XRP, XRP.U)

As such, ETC will continue to offer investors single-ticket, multi-asset crypto exposure, in a structure designed for clarity, cost-efficiency, and regulatory alignment.

The addition of XRP not only strengthens diversification—but also demonstrates Evolve’s proactive, client-first approach to evolving this ETF in step with market needs and investor demand.

Track Record

Recognized as a leader in the Canadian ETF industry, Evolve ETFs has demonstrated a consistent record of innovation and disciplined product development. With over $7 billion in assets under management, the group has established itself by delivering thematic, equity, and digital asset solutions that address evolving investor needs. Its commitment to operational transparency, client education, and rigorous risk management have made Evolve a trusted partner for institutions, advisors, and sophisticated investors seeking exposure to emerging asset classes.

Crypto’s latest Evolution

All told, responding to the increased investor demand for efficient and transparent access to crypto, Evolve’s new XRP ETF and the addition of XRP to Evolve Cryptocurrencies ETF, represent a significant advance in accessibility for institutional and retail investors seeking diversified exposure to digital assets via a regulated, exchange-listed structure.

Discover More

Click the links below to learn more about the Evolve XRP ETF (XRP, XRP.U) and Evolve Cryptocurrencies ETF (ETC)

Learn more about Evolve ETFs’ growing suite of innovative digital asset products and how their partnership with CF Benchmarks is empowering investors for the future at:

www.evolveetfs.com