21Shares Moves TOXR to FTSE Pricing as $150M XRP ETF Tightens Its Wall Street Plumbing

Starting August 27, 2026, the 21Shares XRP ETF (ticker: TOXR) gets a new pricing engine. The fund will now calculate its net asset value (NAV) using the FTSE XRP Index.

That replaces the CME CF XRP–Dollar Reference Rate, New York Variant. Six other U.S. single-asset ETFs in the 21Shares suite are making the same switch. No new token exposure here. No new regulatory approval either.

The fund’s legal structure stays exactly the same. This is purely a rewiring of the pricing plumbing. Behind it sits a fund managing roughly $150 million in assets.

What Changed Inside TOXR and Why It Matters

The paper trail is an 8-K filed with the SEC. On June 30, 2026, 21Shares US LLC gave formal notice to terminate its license with CF Benchmarks.

By August 20, the sponsor signed a new Benchmark Licensing Agreement with FTSE International Limited. The old CF Benchmarks license fully expires on August 31.

That four-week overlap period ensures there is no gap in NAV calculation for TOXR investors.

Alongside the benchmark switch, the trust executed a Fourth Amended and Restated Trust Agreement. Sponsor fees will now be collected at least quarterly in XRP, instead of the previous weekly-in-arrears schedule.

21Shares says these amendments do not materially change shareholder rights. Custody arrangements remain unchanged: Anchorage Digital, BitGo, and Coinbase Custody hold the spot XRP.