21Shares XRP Spot ETF Moves Closer to Launch After Cboe Approval
21Shares’ XRP exchange-traded fund (ETF) advanced toward launch after the Cboe BZX Exchange certified its listing, according to an S-1/A filing with the SEC. Trading under the ticker TOXR, it will become 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 holding the token directly. Custody will be handled by Coinbase Custody, Anchorage Digital Bank, and BitGo, with a 0.30% sponsor fee paid in XRP.
Ripple Markets seeded the fund with 100 million XRP (~$226 million) to enable 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, signaling strong early demand from institutional and wealth investors. The launch momentum aligns with a recent XRP Ledger upgrade enhancing network stability and DeFi functionality, supporting Ripple’s positioning as a compliance-friendly settlement layer.
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