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- The U.S. SEC has approved 21Shares’ spot XRP ETF for the U.S. market.
- The product will mirror the CME CF XRP-Dollar Reference Rate, giving holders access to the value of XRP.
21Shares has confirmed that its U.S. spot XRP ETF will begin trading on Monday. The U.S. Securities and Exchange Commission (SEC) approved the launch through an 8-A filing that was filed on November 7.
As a result, it became automatically effective after the standard review period. The ETF will carry a 0.50% management fee and aims to raise $500,000 in initial capital under the ticker TOXR.
In terms of benchmark and structure, the ETF is specifically designed to track the spot price of XRP using the CME CF XRP–Dollar Reference Rate (XRPUSD_NY), calculated by a regulated benchmark provider. By doing so, investors can get direct exposure to XRP’s spot price without the need to purchase, store, or manage the cryptocurrency.
Also, both retail and institutional investors gain exposure to XRP through traditional brokerage accounts. This then makes entry into the market simpler, as XRP joins Bitcoin (BTC) and Ethereum (ETH).
With the launch of 21Shares’ spot XRP ETF, the firm now joins the ranks of major issuers in the U.S. cryptocurrency ETF space. This marks the fifth XRP-focused ETF to debut in the U.S. market in just a matter of days, following recent listings from providers such as Grayscale and Franklin Templeton.
Grayscale’s GXRP saw inflows of $67.36 million, while Franklin Templeton’s XRPZ attracted $62.59 million. Earlier, the market also saw the launch of spot ETFs for other cryptocurrencies, including Dogecoin (DOGE), Hedera (HBAR), and Litecoin (LTC).
XRP’s Market Activity
Data from SoSoValue shows that the daily total net inflow for the U.S. XRP spot ETF reached $22.68 million, contributing to a cumulative net inflow of $666.61 million. The fund’s total value traded stood at $21.38 million, while total net assets climbed to $687.81 million, reflecting solid investor demand.
Analysis of XRP derivatives indicates that trading volume has increased by 25.29%, reaching a total of $5.96 billion. The open interest, which tracks the total number of outstanding derivatives contracts, declined by 0.05% to $4.19 billion.
XRP is currently trading at $2.20, up 14% from the previous week. Its market capitalization settles at $131 billion, while its 24-hour trading volume of $3.01 billion has increased by 23% in the past day.
