XRP Edges Toward Another U.S. Spot ETF After Cboe Approves 21Shares' Fund

The Cboe BZX Exchange formally approved the listing of 21Shares’ proposed XRP exchange-traded fund (ETF), which will trade under the ticker TOXR, marking a significant step toward its launch. This fund will track the CME CF XRP-Dollar Reference Rate (New York Variant), offering investors regulated exposure to XRP without direct asset handling. The product will use Coinbase Custody, Anchorage Digital Bank, and BitGo for custody and charges a 0.30% sponsor fee paid in XRP. Ripple Markets seeded the fund with 100 million XRP, and authorized participants will have flexibility in creating or redeeming shares using either in-kind or cash methods. This development occurs as existing U.S. spot XRP ETFs approach $1 billion in cumulative inflows, suggesting strong institutional demand, and coincides with an XRP Ledger upgrade aimed at enhancing stability and DeFi functionality.

(Source：CoinDesk)