filing<\/a> with the Securities and Exchange Commission, which certifies that the exchange is ready to list and register the fund once official issuance notices are complete. The ETF will track the CME CF XRP-Dollar Reference Rate \u2013 New York Variant, giving investors regulated access to XRP (XRP) price exposure without handling the asset directly.<\/p>\nKey ETF structure and market setup<\/h2>\n
The move comes three weeks after the SEC\u2019s automatic approval of 21Shares\u2019 8-A registration, which followed the firm\u2019s amended S-1 submission. <\/p>\n
While the Dec. 8 S-1\/A remains marked \u201cSubject to Completion,\u201d regulators consider this a procedural label that does not block exchange listing. Trading could begin as early as next week, depending on final administrative steps.<\/p>\n
<\/p>\n
The 21Shares XRP ETF carries a 0.3% annual sponsor fee, calculated daily and paid weekly in XRP. The product uses a multi-custodian model with Coinbase Custody, Anchorage Digital Bank, and BitGo Trust Company managing the fund\u2019s physical XRP reserves.<\/p>\n
Ripple Markets seeded the ETF with 100 million XRP, worth roughly $226 million at current prices. Shares will be created or redeemed in-kind through XRP transfers or in cash by authorized participants. <\/p>\n
The ETF will trade on the Cboe BZX Exchange under the ticker TOXR, placing it alongside other digital-asset products that have recently launched on the venue.<\/p>\n
Impact on the growing XRP ETF market<\/h2>\n
The approval strengthens a market that has expanded rapidly following the SEC\u2013Ripple lawsuit settlement earlier this year, which affirmed that XRP is not a security in secondary sales. Launched in late November, several spot XRP ETFs have reached milestones at a rate not seen since the initial Ethereum ETFs.\u00a0<\/p>\n
As of Dec. 11, at least four spot XRP ETFs are active, with combined assets nearing $1 billion and net inflows above $900 million since inception. Analysts view the 21Shares product as a key addition, especially given its size, seed capital, and custody design.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
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