21Shares XRP Spot ETF Nears Launch Following Cboe Approval
21Shares’ XRP exchange-traded fund (ETF) has moved closer to launch after the Cboe BZX Exchange certified its listing, according to an S-1/A filing with the SEC. Trading under the ticker TOXR, the fund will be the fifth spot XRP product approved for exchange trading while the SEC continues its review.
The ETF will track the CME CF XRP-Dollar Reference Rate (New York Variant), giving investors regulated exposure to XRP without directly holding the token. Custody will be provided by Coinbase Custody, Anchorage Digital Bank, and BitGo, with a 0.30% sponsor fee in XRP.
Ripple Markets seeded the fund with 100 million XRP (~$226 million) to support creation and redemption, allowing authorized participants to transact in-kind or in cash.
U.S. spot XRP ETFs are approaching $1 billion in cumulative inflows less than a month after launch, with no net outflow days recorded, reflecting strong institutional and wealth investor demand. The momentum coincides with a recent XRP Ledger upgrade enhancing stability and DeFi functionality, bolstering Ripple’s position as a compliance-friendly settlement layer.
