Teucrium XRP Fund (TOXR) is a digital asset trust that holds XRP tokens on behalf of shareholders, providing investors with exposure to the spot price of XRP without requiring direct custody of the digital asset. The Trust generates no operating revenue. It charges shareholders a Sponsor Fee at an annual rate of 0.30% of total XRP holdings, which covers ordinary Trust expenses including custody, administration, transfer agency, exchange listing fees, audit, and legal costs up to $100,000 per annum (per the 10-K filed 2026-03-31). Shares are created and redeemed through Authorized Participants in basket units, with the Trust's net asset value tied directly to the price of XRP, which stood at $2.10 per XRP as of December 31, 2024. XRP is custodied through Coinbase Custody and BitGo. The Trust reported a net decrease in net assets from operations of $11,323,810 for the period ended December 31, 2024, driven by unrealized losses on its XRP holdings.

Revenue model

The Trust charges a Sponsor Fee at an annual rate of 0.30% of total XRP holdings. This fee is the only ordinary recurring expense and covers substantially all Trust operating costs. There is no other revenue stream disclosed.

Products and services

A single exchange-traded product: shares of a statutory trust that holds XRP, offering investors spot price exposure to XRP. Shares are created and redeemed in basket units exclusively through Authorized Participants.

Customers and end markets

Investors seeking spot XRP price exposure through a regulated exchange-traded wrapper. Share creation and redemption is conducted exclusively through Authorized Participants; retail and institutional investors access shares on the secondary market.

Value-chain role

Passive holding vehicle. The Trust holds XRP in custody via Coinbase Custody and BitGo, issues and redeems shares through Authorized Participants, and does not trade XRP on spot markets itself.

Geographic exposure

The filing excerpts do not specify geographic exposure for investors or operations beyond the Trust being registered with the U.S. SEC.

Source: SEC 10-K, filed 2026-03-31

Industry: Commodity Contracts Brokers & Dealers