Key Takeaways
- 21shares launched its XRP ETF, trading under TOXR on the Cboe BZX Exchange after SEC approval.
- The fund provides exposure to XRP with a 0.3% annual fee and tracks the CME CF XRP-Dollar Reference Rate.
21shares, a top crypto ETP issuer, officially rolled out its XRP ETF on Thursday after receiving an SEC effectiveness notice.
The fund, the 21shares XRP ETF (TOXR), trades on the Cboe BZX Exchange and charges a 0.3% annual sponsor fee. It’s aimed at expanding investor access to XRP, the world’s fourth-largest crypto asset by market cap.
CEO Russell Barlow said in a statement that the new launch strengthens the firm’s mission to deliver secure, compliant crypto ETPs to US investors, backed by years of global product development expertise.
With its XRP ETF, 21shares continues to grow its product lineup, which offers diversified investment options tracking major assets like Bitcoin, Ethereum, and Solana.
Federico Brokate, who leads 21shares’ global business, said the launch was motivated by rising appetite among US clients for diversified crypto exposure. He added that the company expects crypto adoption to continue accelerating exponentially in the coming months and years.
XRP-backed ETFs in the US have surpassed $1 billion in inflows following Canary Capital’s November launch of its spot XRP offering. The entry of 21shares’ fund is likely to further accelerate competition in the market.
Source: https://cryptobriefing.com/xrp-etf-launch-sec-approval/
