21Shares XRP ETF Begins Trading on CBOE With $226M Seed

Ripple Markets seeded the fund with 100 million XRP valued at approximately $226 million, enabling initial creation and redemption operations.

XRP News

The 21Shares XRP ETF started

on CBOE under ticker symbol TOXR, becoming the fifth spot XRP product to receive exchange approval. Ripple Markets seeded the fund with 100 million XRP valued at approximately $226 million, enabling initial creation and redemption operations.

The fund tracks the CME CF XRP-Dollar Reference Rate New York Variant, providing regulated exposure to XRP without requiring direct asset handling. Coinbase Custody, Anchorage Digital Bank, and BitGo will serve as custodians in a three-provider security arrangement.

Federico Brokate, global head of business development at 21Shares, said the launch addresses growing investor appetite for cryptocurrencies in U.S. markets. The firm expects adoption to rise exponentially as clients seek diversified crypto exposure through regulated vehicles.

The ETF charges a 0.30% sponsor fee paid in

and allows authorized participants to create or redeem shares through in-kind or cash transactions. This flexibility gives liquidity providers more options than early crypto ETP structures typically permitted.