CBOE Approves 21Shares Spot XRP ETF — Fifth U.S. XRP Fund, 0.3% Fee
21Shares has won CBOE BZX approval to list a spot XRP ETF (ticker TOXR), becoming the fifth U.S. spot XRP fund. The ETF provides regulated, brokerage-accessible exposure to XRP and removes the need for direct custody. 21Shares charges a competitive 0.3% annual sponsor fee (calculated daily and paid weekly in XRP) and references the CME CF XRP–USD Reference Rate (New York Variant) for pricing. The fund emphasises a multi-custodian security model and institutional-grade compliance to attract institutional investors. Although the S-1 still carries a routine delaying amendment pending final SEC administrative steps, the CBOE listing and repeated S-1 updates indicate the remaining process is largely procedural. Market reaction has been muted so far; XRP price action showed short-term weakness near $2.01 in one report. For traders, the approval strengthens XRP’s institutional legitimacy and could lift demand and liquidity if inflows materialise, but short-term momentum remains fragile. Key trading takeaways: monitor ETF inflows, fee competition among issuers, and technical support/resistance levels; expect increased liquidity over time but potential near-term volatility.
Bullish
Approval of a fifth U.S. spot XRP ETF is a net positive for XRP’s price outlook. Listing on CBOE and a competitive 0.3% fee lower the barrier for institutional and retail brokerage access, likely increasing demand and improving market liquidity over time. The fund’s use of the CME CF XRP–USD Reference Rate and multi-custodian model reduces custody and pricing concerns for institutions, which supports larger, more stable inflows. Near-term impact may be muted or mixed: S-1 administrative steps remain and initial market reaction has been subdued, while technical momentum appears fragile. Therefore traders should expect potential volatility around launch and early inflow announcements but a bullish medium-to-long-term bias if cumulative ETF assets grow toward the reported near-$1 billion level. Tactical guidance: watch ETF filings and weekly inflow reports, monitor support/resistance, and size positions to account for short-term downside risk despite favorable structural demand.