Anticipation turned into momentum as 21shares announced on social media platform X on Dec. 11 that its long-awaited XRP exchange-traded fund (ETF) has officially begun trading on the Cboe BZX Exchange, offering investors a more energized path to streamlined exposure to the digital asset. The update highlighted improved liquidity, transparency, and easier access for those interested in XRP.
The company said:
The 21shares XRP ETF (TOXR) is now live, providing investors a liquid, transparent, and convenient way to gain exposure to XRP—a foundational asset in the future of global payments.
The post also emphasized community backing from the XRP Army, the XRP Ledger’s enterprise-focused design, and institutional adoption across payments, tokenization, and decentralized finance. It further underscored XRP’s established role in global settlement and its position among the largest cryptocurrencies by market value.
According to the official TOXR factsheet, the fund seeks to track the CME CF XRP—Dollar Reference Rate—New York Variant and will hold XRP directly, valuing its shares daily based on that benchmark. The document highlights growing institutional interest from firms such as Santander, Bank of America, and SBI Holdings. The factsheet adds that Ripple USD (RLUSD), a fully USD-backed stablecoin issued on the XRP Ledger, surpassed $1 billion within its first year and is regulated by the New York Department of Financial Services.
Read more: 21shares Accelerates Crypto Access With 2 New Index ETFs Tracking Market Leaders
21shares noted that TOXR can be traded through major banks or brokerages, though the fund’s disclosures caution that it is not registered under the Investment Company Act of 1940 and therefore is not subject to the same regulatory protections as 40 Act ETFs or mutual funds.
A broader industry backdrop shows that the initial wave of spot XRP ETF and ETP launches emerged in November following the resolution of the U.S. Securities and Exchange Commission (SEC) vs. Ripple lawsuit and the SEC’s introduction of generic listing standards, which made it easier for exchanges to list products tied to established crypto benchmarks. Major asset managers introduced offerings such as the Grayscale XRP Trust ETF (GXRP), Bitwise XRP ETF, Franklin XRP ETF (XRPZ) and Canary XRP Trust (XRPC) during this period, while other products—including the REX-Osprey XRP ETF (XRPR)—entered the market outside that first wave. Multi-asset crypto index ETFs, including Grayscale’s GDLC and Franklin’s EZPZ, also expanded to incorporate XRP allocations, reflecting strengthening institutional demand and broader acceptance of XRP within diversified portfolios.
- Why is the launch of the 21shares XRP ETF (TOXR) significant for investors?
Because it gives investors streamlined, regulated, and liquid exposure to XRP directly on the Cboe BZX Exchange, reducing barriers to institutional-grade crypto allocation. - How does TOXR improve liquidity and transparency for XRP exposure?
The ETF tracks the CME CF XRP–Dollar Reference Rate and holds XRP directly, ensuring daily NAV valuation and offering higher trading clarity than typical spot market access. - What institutional demand signals support this ETF’s market potential?
Growing interest from major firms like Santander, Bank of America, and SBI Holdings highlights increasing enterprise adoption of XRP for payments, tokenization, and settlement. - How does the broader XRP ecosystem strengthen the investment narrative?
With the XRP Ledger’s enterprise-focused design, strong community support, and regulated assets like Ripple’s USD-backed stablecoin RLUSD surpassing $1B in its first year, XRP’s fundamentals reinforce long-term utility and market resilience.
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