Franklin XRP ETF, a series of Franklin XRP Trust sponsored by Franklin Holdings, LLC, filed its quarterly report on Form 10-Q for the period ended September 30, 2026, with the SEC on November 13, 2026.

Key Highlights

  • XRP holdings at fair value: The trust reported investment in XRP at fair value of $439,668,398 as of September 30, 2026, compared with $215,061,670 as of March 31, 2026.
  • Net assets: Net assets totaled $439,606,153 as of September 30, 2026, up from $215,061,670 as of March 31, 2026.
  • Net asset value per share: NAV per share was $16.28 at September 30, 2026, versus $14.63 at March 31, 2026.
  • Shares outstanding: The trust had 27,000,000 shares issued and outstanding as of September 30, 2026, compared with 14,700,000 as of March 31, 2026.
  • Cost of XRP holdings: The cost of the trust's XRP investment was $501,430,187 at September 30, 2026, versus $322,149,692 at March 31, 2026.
  • Sponsor's fee payable: Liabilities consisted solely of a sponsor's fee payable of $62,245 as of September 30, 2026, with no such liability reported as of March 31, 2026.
  • Shares outstanding at filing date: The registrant reported 28,600,000 outstanding shares as of November 2, 2026.

Franklin XRP Trust Balance Sheet and Fund Overview for the September 2026 Quarter

According to the filing, Franklin XRP ETF (NYSE Arca:XRPZ) is a series of Franklin XRP Trust, a Delaware trust sponsored by Franklin Holdings, LLC, with principal offices at One Franklin Parkway, San Mateo, CA 94403-1906. The fund holds XRP as its sole investment asset, and the quarterly report covers the period ended September 30, 2026, with a fiscal year that began April 1, 2026.

The combined statements of assets and liabilities disclosed that total assets of the trust equaled the fair value of XRP holdings at $439,668,398 as of September 30, 2026. The cost basis of those holdings was reported as $501,430,187, meaning the fair value of the XRP position was below its cost at the period end date, according to the filing. Total liabilities as of September 30, 2026 consisted entirely of a sponsor's fee payable of $62,245, resulting in net assets of $439,606,153. Shares issued and outstanding at the trust level stood at 27,000,000, carrying no par value, with an unlimited amount authorized, the filing stated.

The registrant identified itself as a non-accelerated filer, a smaller reporting company, and an emerging growth company as defined under the Jumpstart Our Business Startups Act. The filing noted that as an emerging growth company, the trust may take advantage of certain exemptions from reporting requirements, including those related to auditor attestation under Section 404(b) of the Sarbanes-Oxley Act, as described in the filing. Forward-looking statements included in the report are the company's own and are subject to the cautionary language set out in the filing.

What Was Disclosed

Franklin XRP Trust filed its unaudited Form 10-Q for the quarter ended September 30, 2026, disclosing XRP holdings at fair value of $439,668,398, net assets of $439,606,153, NAV per share of $16.28, and 27,000,000 shares outstanding at the trust level.