Key Takeaways
- Cboe BZX Exchange approved the listing of the 21Shares XRP ETF, which will hold and track the performance of XRP.
- The ETF will trade under ticker TOXR and custody XRP holdings with Coinbase Custody, Anchorage Digital Bank, and BitGo Trust Company.
Cboe BZX Exchange confirmed it has approved the listing and registration of the 21Shares XRP ETF, according to a Wednesday filing with the SEC. This means the product is ready to go live upon official notice of issuance.
The 21Shares XRP ETF, which will track the performance of the CME CF XRP-Dollar Reference Rate – New York Variant, aims to offer exposure to XRP, the fourth-largest crypto asset by market capitalization, according to its latest prospectus.
Shares are set to trade on Cboe BZX Exchange under the ticker symbol TOXR. The fund will charge a 0.3% annual sponsor fee, calculated daily and paid weekly in XRP.
Ripple Markets is currently the only shareholder of the XRP trust, holding 10,000,000 shares acquired at a purchase price of 100,000,000 XRP, valued at approximately $226 million in aggregate.
21Shares hinted that trading for its spot XRP ETF is set to start soon.
The 21Shares XRP ETF will join numerous XRP funds on the market this year, including those from Canary Capital, Bitwise, Grayscale, and Franklin Templeton.
Source: https://cryptobriefing.com/cboe-21shares-xrp-etf-listing-approval/
