21Shares launches TOXR — fifth U.S. spot XRP ETF after Cboe approval
21Shares has received Cboe BZX approval to list a spot XRP ETF that will trade under the ticker TOXR, joining four earlier U.S. launches. TOXR tracks the CME CF XRP–USD Reference Rate (New York variant), uses Coinbase Custody, Anchorage Digital Bank and BitGo as custodians, and charges a 0.30% annual sponsor fee paid in XRP (calculated daily, paid weekly). The ETF’s filing shows Ripple Markets as the sole shareholder of the underlying XRP trust (10,000,000 shares acquired for 100 million XRP, ~ $226m at the reference rate). TOXR is the fifth U.S.-listed spot XRP ETF after Grayscale, Canary Capital, Bitwise and Franklin Templeton. Collectively, U.S. spot XRP funds are approaching $1 billion AUM and have recorded no net outflow days since launch, indicating steady institutional demand amid clearer regulatory conditions. Despite ETF inflows, XRP’s market price has lagged recently (about $1.99 at publication, down ~7.2% over the prior week and over 45% below July’s peak), signaling short-term volatility. For traders, the key implications are expanded institutional access to XRP via regulated ETF wrappers, potential for continued ETF-driven inflows as product options multiply, and heightened short-term price moves as supply dynamics and macro factors are absorbed.
Bullish
The launch of 21Shares’ TOXR increases regulated, institutional access to XRP by adding another spot ETF wrapper with recognized custodians and a low fee (0.30%). Historically, the introduction of regulated spot ETFs has helped channel institutional capital into underlying tokens — U.S. spot XRP funds are already nearing $1 billion AUM and have shown persistent net inflows since inception. That structural demand tends to be bullish over the medium to long term by reducing friction for large investors and creating a steady buyer base. Short-term price action can remain volatile: the market price of XRP has recently lagged and fell over the prior week, so traders should expect episodic pullbacks as inflows, supply dynamics (including trust holdings and issuer-related flows), and macro factors are digested. In sum: positive long-term demand signal and product expansion (bullish), but with likely short-term volatility around news, flows and broader crypto market moves.