Ripple Markets seeded the fund with 100 million XRP valued at approximately $226 million, enabling initial creation and redemption operations.
XRP News
The 21Shares XRP ETF started trading on CBOE under ticker symbol TOXR, becoming the fifth spot XRP product to receive exchange approval. Ripple Markets seeded the fund with 100 million XRP valued at approximately $226 million, enabling initial creation and redemption operations.
The fund tracks the CME CF XRP-Dollar Reference Rate New York Variant, providing regulated exposure to XRP without requiring direct asset handling. Coinbase Custody, Anchorage Digital Bank, and BitGo will serve as custodians in a three-provider security arrangement.
Federico Brokate, global head of business development at 21Shares, said the launch addresses growing investor appetite for cryptocurrencies in U.S. markets. The firm expects adoption to rise exponentially as clients seek diversified crypto exposure through regulated vehicles.
The ETF charges a 0.30% sponsor fee paid in XRP and allows authorized participants to create or redeem shares through in-kind or cash transactions. This flexibility gives liquidity providers more options than early crypto ETP structures typically permitted.
U.S. spot XRP ETFs have approached $1 billion in cumulative inflows less than one month after category launch. Issuers have recorded zero net outflow days, an unusual pattern suggesting sustained demand from wealth platforms and institutional allocators.
The timing aligns with a new XRP Ledger upgrade focused on network stability and expanded decentralized finance functionality. Ripple positions these improvements as enhancing the ledger's reliability for institutions using ETF products as compliance-friendly access points.
Recent weeks saw multiple firms debut XRP ETFs, including products from Grayscale, Canary Capital and REX Shares. XRP facilitates low-cost international money transfers and is associated with Ripple Labs, which designed the token for cross-border payment efficiency.
21Shares operates other crypto ETFs including a Solana-focused product, expanding its digital asset offerings across multiple blockchain networks. The company views TOXR as meeting rising demand for exposure to XRP and the broader Ripple ecosystem through traditional investment channels.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
