- Cboe approval moves the new 21Shares XRP ETF closer to trading while investor demand for regulated XRP access grows.
- The ETF uses a multi custodian model and seeded liquidity to strengthen security and support smooth market operations.
- Spot XRP ETFs approach $1 billion inflows as interest rises after recent regulatory clarity on XRP status.
Cboe has approved the upcoming 21Shares XRP exchange-traded fund, which will trade under the ticker TOXR. The approval appeared in a recent regulatory filing and positions the product to become the fifth U.S. spot XRP fund.
The ETF can begin trading once final administrative checks are complete. Its addition expands a market that has seen strong inflows as investor interest in regulated crypto exposure continues to rise.
Regulatory Progress and Listing Details
The latest filing shows the fund’s S-1 registration still marked with a delaying amendment. The designation signals that the issuer awaits procedural clearance rather than facing any regulatory block. The ETF will track the CME CF XRP-Dollar Reference Rate, New York Variant.
The index provides regulated access to XRP price movements without requiring direct custody of the asset. The approval follows the automatic validation of the issuer’s 8-A registration three weeks ago. That step cleared a major hurdle and prepared the product for listing on the Cboe BZX Exchange. Trading could begin as early as next week once issuance notices are finalized.
Fund Structure and Initial Liquidity
The ETF carries an annual sponsor fee of 0.3%. The fee will be calculated daily and paid weekly in XRP. The issuer adopted a multi-custodian framework involving Coinbase Custody, Anchorage Digital Bank, and BitGo Trust Company. The model aims to strengthen asset protection and distribute risk across several institutions.
Ripple Markets supplied the ETF with 100 million XRP to establish seed liquidity. The amount is valued at roughly $226 million at current prices. Authorized participants will handle share creation and redemption through in-kind XRP transfers or cash settlement. The structure aligns with existing products on the exchange that also use digital-asset settlement models.
Wider Market Impact and Recent XRP Developments
The launch would follow the debut of Franklin Templeton’s spot XRP fund, which entered the market late last month. Spot XRP ETFs in the United States have attracted nearly $1 billion in inflows in less than four weeks. Current figures place total inflows at about $954 million. Market analysts note that no U.S. spot XRP ETF has reported a day of net outflows. Moreover, DTCC recently listed 5 spot XRP ETFs showing rising interest in digital asset investment funds.
Daily inflows continued this week even as broader market prices shifted. XRP products have expanded rapidly since the settlement of the SEC–Ripple lawsuit, which confirmed that XRP is not a security in secondary sales. Ripple also introduced an important XRP Ledger update intended to strengthen network stability and boost DeFi functions. The update arrived as interest in regulated XRP exposure reached new levels with the upcoming 21Shares listing.
