TDOT vs XRP

TDOTB21shares Polkadot ETF Shares of Beneficial Interest

XRPABitwise XRP ETF

In short

TDOT The first US spot Polkadot fund: it holds real DOT, stakes a slice of the pile, and passes those network rewards through to shareholders. Fee sits under the typical spot-crypto rate, and the fund is still small and new.

XRP Bitwise won the naming fight: its spot fund trades under the coin's own ticker. Underneath it is plain plumbing, XRP in cold storage at Coinbase, priced off a CME CF reference rate, one all-in 0.34% fee.

Stated mandate

TDOT The Trust seeks to track the performance of DOT as measured by the CME CF Polkadot — Dollar Reference Rate — NY Variant.

XRP The Fund holds spot XRP to give investors indirect exposure to XRP through exchange-traded shares.

Why people hold it

• TDOT 0.30% a year, below the going rate across spot-crypto funds and matching the cheapest end of 21Shares' own altcoin shelf (TSUI, TOXR).
• Stakes part of its DOT and distributes the staking rewards it collects, so holders get network income alongside price exposure without running a wallet or validator.21shares.com
• Plain plumbing: a grantor trust holding the coin itself, tracking the CME CF Polkadot Dollar Reference Rate (NY Variant), the same wrapper used by spot bitcoin ETFs.globenewswire.com
• Brokerage-account access to Polkadot, a layer-0 network built around cross-chain interoperability, without keys, exchanges or self-custody.21shares.com

• XRP One unitary 0.34% sponsor fee, with the sponsor covering most routine operating expenses. That undercuts Canary's XRPC (0.50%) for the same spot XRP exposure.sec.gov
• Boring by design: spot XRP only, no derivatives or leverage, held in segregated cold storage at Coinbase Custody with BNY Mellon handling administration and transfer agency.sec.gov
• NAV is struck against the CME CF XRP-Dollar Reference Rate (New York Variant), which aggregates executed trade flow from major XRP platforms instead of leaning on one venue's print.sec.gov
• Actively traded since day one, and it sits in the upper tier of US spot crypto funds on trading quality.

Worth knowing

• TDOT A small, lightly traded fund launched in 2026, which tends to mean wider spreads than the household-name crypto ETFs.
• Registered under the 1933 Act, not the Investment Company Act of 1940, so the protections that come with a standard ETF wrapper do not apply.globenewswire.com
• One token, one network, plus staking-specific risks layered on top of DOT's volatility. The issuer flags full loss of investment as possible.21shares.com

• XRP One coin, one risk. Shares follow XRP and nothing else, and single-asset crypto moves are large in both directions.
• Not the cheapest ticket on the shelf: 21Shares' TOXR carries the same spot XRP exposure at 0.30%.
• Launched in November 2025, so the trading and tracking record is short, and the fund makes no distributions.

Full TDOT profile⁠

Full XRP profile⁠