Overview
- 21Shares began trading its spot XRP ETF under the ticker TOXR on the Cboe BZX Exchange after the SEC declared its S-1 effective.
- Ripple Markets seeded the trust with 100 million XRP (about $226 million), and creations/redemptions can be executed in-kind or in cash by authorized participants.
- The fund tracks the CME CF XRP‑USD Reference Rate (New York Variant), uses Coinbase Custody, Anchorage Digital Bank and BitGo for storage, and charges a 0.30% sponsor fee paid in XRP.
- TOXR becomes the fifth U.S. spot XRP ETF, with the cohort drawing roughly $1 billion in cumulative inflows to date and recording no net outflow days reported so far.
- XRP’s price has softened around the launch window as derivatives metrics show bearish positioning and reduced open interest, suggesting ETF demand is offsetting broader sell-side pressure.