- 21Shares XRP ETF starts trading on Cboe BZX with 0.3% fee
- Fund holds spot XRP with multi-custodian storage
- New XRP ETF joins a US market with over $1B in XRP inflows
The launch of the new 21Shares XRP ETF marks a clear step in how traditional investors access the fourth-largest cryptocurrency by market value, with the fund now trading on the Cboe BZX Exchange under the ticker TOXR and charging a 0.3% annual sponsor fee that is calculated daily and paid weekly in XRP.
This XRP ETF tracks the CME CF XRP-Dollar Reference Rate (New York Variant), giving investors regulated exposure to spot XRP without the need to manage wallets or private keys. The product arrives in a market where US-listed XRP funds have already drawn more than $1 billion in cumulative inflows since mid-November, driven first by Canary Capital’s spot product and then by additional issuers. Against that backdrop, 21Shares positions TOXR as a simple wrapper over physical XRP, bringing its experience from nearly eight years of building crypto exchange-traded products in Europe into the United States. For many investors, this combination of regulated structure, institutional-grade custody and growing liquidity makes the XRP ETF landscape an increasingly relevant part of the broader digital asset market.
21Shares brings regulated XRP ETF access to Cboe BZX
Cboe BZX confirmed approval for listing and registration of the 21Shares XRP ETF in a filing with the US Securities and Exchange Commission, clearing the way for trading to begin once official notice of issuance arrives. The fund trades under the ticker TOXR and aims to mirror the performance of XRP as measured by the CME CF XRP-Dollar Reference Rate, adjusted for fees and liabilities. In practice, that means the portfolio holds XRP directly and relies on the benchmark to value shares each day rather than using derivatives or complex leverage structures that can create tracking gaps over time. XRP ranks as the fourth-largest crypto asset by market capitalization, and 21Shares frames the TOXR launch as an answer to rising demand from US investors who want regulated access to that specific asset rather than a broad basket alone. The issuer already operates a wide lineup of crypto ETPs in Europe and, more recently, two US index funds that track the FTSE Crypto 10 and FTSE Crypto 10 ex-Bitcoin under the Investment Company Act of 1940, with fees of 0.5% and 0.65% respectively. The new XRP ETF sits beside those multi-asset products and gives advisors a single-asset tool when they want to express a view on XRP rather than on the entire market. Russell Barlow, who leads the combined business at 21Shares’ parent group, points to almost eight years of product development in global crypto ETP markets as the foundation for TOXR’s structure and risk controls. His comments highlight a focus on secure custody, transparent pricing and compliance with US regulations rather than on short-term trading themes or speculative narratives. That message targets investors who prefer a familiar ETF wrapper when they test or expand allocations to digital assets and who now see an XRP ETF as part of the same menu as Bitcoin and Ethereum funds.
Inside the 21Shares XRP ETF structure and fee model
The 21Shares XRP ETF charges a 0.3% annual sponsor fee, which the manager calculates each day and pays weekly in XRP, a design that aligns the fund’s operating costs with the asset it holds. This fee level sits below many early crypto products and signals a more mature, price-competitive market where issuers compete on both cost and operational features. For advisors building diversified digital asset allocations, such a fee level sits roughly between the cheapest spot Bitcoin funds and some of the more specialized altcoin products that charge more. Custody and operational resilience stand at the center of the structure. The ETF uses a multi-custodian model, with Coinbase Custody, Anchorage Digital Bank and BitGo Trust Company collectively responsible for holding the underlying XRP. This arrangement reduces reliance on a single provider and spreads operational risk across several regulated institutions that already serve institutional clients. By keeping XRP in cold or institutional-grade storage and limiting movement to creation and redemption activity, the fund aims to reduce counterparty and security risks that retail investors might face when they hold XRP directly on unregulated platforms. Seeding details add context to the scale of the product. Ripple-linked entities provided around 100 million XRP as seed capital, worth roughly $226 million at recent prices, giving the ETF immediate depth for market makers and authorized participants. Creations and redemptions can occur in kind, using XRP transfers, or in cash, depending on the preferences and capabilities of the authorized participants. That flexibility matters for liquidity providers who already operate in XRP markets and can help keep spreads tight for secondary-market investors in the XRP ETF from the first days of trading.
XRP ETF market passes $1 billion as competition builds
The new 21Shares XRP ETF does not launch into an empty field. Canary Capital’s spot fund, which began trading in mid-November, has already recorded inflows that helped push US-listed XRP products beyond the $1 billion mark in cumulative net investments. Data from SoSoValue and other trackers show a streak of more than 15 trading days with net positive flows across the group of XRP funds, including those from Canary, Grayscale, Bitwise, Franklin Templeton and other issuers. Within that set, the Canary XRP ETF leads with roughly $349 million in assets under management, followed by Teucrium’s leveraged XXRP vehicle at about $247.4 million and several other products that range between $70 million and $160 million each. Together, these funds create a landscape where the 21Shares product becomes the fifth major XRP ETF and joins a cohort that already demonstrates persistent institutional demand. Issuers compete on fee levels, use of leverage, index methodology and listing venues, while investors choose between pure spot exposure and more complex futures-based or leveraged structures. The inflow pattern stands out compared with earlier altcoin products. XRP ETFs reached the $1 billion inflow milestone in under a month, a pace that some analysts describe as faster than Ethereum managed after its own spot ETF introduction.That pace suggests that a mix of existing XRP holders, long-time followers of the asset’s cross-border payments thesis and new investors who previously focused on Bitcoin or Ethereum now see a regulated XRP ETF as a straightforward way to add another large-cap crypto asset to their portfolios.
What the new XRP-based fund means for US crypto investors
For US investors, the arrival of the 21Shares XRP ETF changes how they can approach exposure to one of the most established non-Bitcoin assets. Traditional brokerage and retirement accounts can now access XRP exposure through a ticker that settles and clears like any other equity or ETF listed on Cboe, without separate onboarding to crypto exchanges or new custody workflows. Advisors can plug the ETF into existing portfolio models, monitor it through standard risk systems and rebalance positions with the same tools they use for other funds. The XRP ETF also arrives as part of a broader shift in the US exchange-traded product market. In the past year, more than forty crypto-linked ETFs have gone live, covering spot Bitcoin, spot Ethereum, Ethereum futures, thematic baskets and now a growing list of single-asset products such as Solana and XRP. At the same time, some issuers have stepped back from planned launches, as CoinShares did when it withdrew registration statements for its own XRP, Solana staking and Litecoin ETFs, citing limited room for differentiation and pressure on margins in the single-asset segment. The decision by 21Shares to move ahead with TOXR, while others exit, underlines a belief that established liquidity and an existing global ETP platform can still support sustainable products. For investors, the key questions now revolve around fit and role. An XRP ETF can sit beside Bitcoin and Ethereum funds as part of a diversified crypto slice within a multi-asset portfolio, or it can serve as a targeted position for those who follow developments around cross-border payments, stablecoin rails and tokenization on the XRP Ledger. Because TOXR holds XRP directly and tracks a transparent reference rate, performance should closely mirror the spot market, minus the known 0.3% annual fee and any trading costs. That structure keeps the focus on the asset’s own fundamentals rather than on structural quirks inside the fund.
Conclusion
The launch of the 21Shares XRP ETF on Cboe BZX adds another regulated path into XRP at a time when US-listed funds tracking the asset have already crossed $1 billion in cumulative inflows and show a consistent streak of net buying across several issuers. With a 0.3% sponsor fee, a multi-custodian model that includes Coinbase Custody, Anchorage Digital Bank and BitGo, and seed capital of around 100 million XRP, TOXR enters the market with scale and infrastructure that match its peers. For investors and advisors who want exchange-traded exposure to a large-cap asset built for cross-border payments, the expanding XRP ETF lineup now offers several options, and the new 21Shares fund joins that group as another straightforward tool that fits inside existing portfolio and compliance frameworks.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from any company.
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