Cboe BZX Exchange Approves Listing for 21Shares' XRP Spot ETF Ticker TOXR
The Cboe BZX Exchange has formally approved the listing of 21Shares' XRP ETF, with the ticker TOXR, marking a significant step towards its official launch. This ETF is designed to track the CME CF XRP-Dollar Reference Rate (New York Variant), offering investors exposure to XRP through a regulated fund structure without the need to directly handle the underlying asset. Ripple Markets has seeded the ETF with 100 million XRP, valued at approximately $226 million based on the reference rate, to facilitate initial creation and redemption processes. Custodial services will be managed by Coinbase Custody, Anchorage Digital Bank, and BitGo. Authorized participants have the flexibility to create or redeem shares either in-kind or via cash transactions. The ETF carries a sponsor fee of 0.30% of assets, which is payable in XRP. This product represents the fifth U.S. spot XRP ETF to receive exchange approval as the SEC continues its review of registration materials. Notably, the broader category of U.S. spot XRP ETFs has attracted nearly $1 billion in cumulative inflows within less than a month of their launch, maintaining consistent net inflows with no days of net outflows. Concurrently, an upgrade to the XRP Ledger has been announced to enhance network stability and decentralized finance (DeFi) functionality, positioning the network to better support institutional adoption through ETFs as a compliant access point to XRP.
