21Shares XRP Spot ETF Nears Launch Following Cboe Approval
21Shares’ XRP exchange-traded fund (ETF) is one step closer to launch after the Cboe BZX Exchange formally certified its listing, according to an S-1/A filing with the SEC. The fund will trade under the ticker TOXR, becoming 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 handled by Coinbase Custody, Anchorage Digital Bank, and BitGo, with a 0.30% sponsor fee payable in XRP.
Ripple Markets seeded the fund with 100 million XRP (~$226 million), enabling creation and redemption, with authorized participants able to transact in-kind or in cash for added flexibility.
U.S. spot XRP ETFs are approaching $1 billion in cumulative inflows less than a month after launch, with no net outflow days, reflecting strong demand from institutional and wealth investors. ETF momentum is supported by a recent XRP Ledger upgrade focused on network stability and expanded DeFi functionality, reinforcing Ripple’s position as a compliance-friendly settlement layer.
