Fifth XRP Spot ETF Expected Following CBOE Greenlight for 21Shares

21Shares XRP Spot ETF Gets Cboe Nod, Moves Closer to Launch

21Shares’ proposed XRP exchange-traded fund (ETF) advanced toward launch after the Cboe BZX Exchange formally certified its approval for listing, according to a recent S-1/A filing with the U.S. Securities and Exchange Commission. The fund will trade under the ticker TOXR, marking the fifth spot XRP product to gain exchange approval while the SEC continues its review.

The ETF will track the CME CF XRP-Dollar Reference Rate (New York Variant), allowing investors regulated exposure to XRP without holding the asset directly. XRP will be custodied through Coinbase Custody, Anchorage Digital Bank, and BitGo, with a 0.30% sponsor fee payable in XRP.

Ripple Markets seeded the fund with 100 million XRP—roughly $226 million at the reference rate—to enable creation and redemption activity. Authorized participants can transact in-kind or in cash, offering more flexibility than earlier crypto ETP structures.

U.S. spot XRP ETFs are approaching $1 billion in cumulative inflows less than a month after launch, with no net outflow days recorded, highlighting strong early demand from institutional and wealth investors.

ETF momentum coincides with a new XRP Ledger upgrade focused on network stability and expanded DeFi capabilities, further strengthening Ripple’s positioning as a reliable settlement layer for institutions.