21Shares’ TOXR XRP ETF Cleared by Cboe as Inflows Near $1 Billion

XRP ETF momentum continues to grow as Cboe approves 21Shares’ spot XRP fund for listing under the ticker TOXR, making it the fifth XRP ETF in the U.S. and pushing total inflows close to the $1 billion mark. 

Despite the strong demand, XRP’s price remains stuck below the $2.09–$2.10 resistance level with limited movement. Even so, U.S. spot XRP ETFs recorded over $170 million in weekly inflows with no outflows, showing solid institutional interest even as the price lags.

A New XRP ETF Ready to Launch

Cboe confirmed its approval through an SEC filing, clearing the final exchange requirement before trading can begin. The S-1 filing still includes a delaying amendment, but this is mostly procedural, indicating 21Shares is waiting for the final regulatory sign-off. Once launched, TOXR will join other recently introduced XRP ETFs, including Franklin Templeton’s fund.

The TOXR ETF will track the CME CF XRP-Dollar Reference Rate (New York Variant), giving investors regulated XRP exposure without the need to manage private keys or handle self-custody—one of the biggest hurdles for traditional investors.

Inside the TOXR Structure

The ETF has a 0.3% annual sponsor fee, calculated daily and paid weekly in XRP. It also uses a multi-custodian model with Coinbase Custody, Anchorage Digital Bank, and BitGo Trust Company, following regulatory best practices for crypto asset security.

Ripple Markets has strengthened the fund’s liquidity by seeding it with 100 million XRP (worth about $226 million), giving TOXR unusually strong backing from the start. The fund supports both in-kind XRP creation/redemption and cash settlements, offering flexibility for institutional players.

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XRP ETFs Closing in on $1 Billion

XRP ETFs have quickly become one of the fastest-growing segments in the U.S. crypto market. In less than a month, the four active spot funds have attracted around $954 million in inflows with no net outflow days. Even during recent market volatility, they added another $10 million, showing consistent institutional demand.

Ripple CEO Brad Garlinghouse highlighted that XRP is now the fastest-growing U.S. crypto ETF category by AUM since Ethereum.

What’s Next for XRP ETFs?

With products already live from Canary Capital, Bitwise, Grayscale, and Franklin Templeton, and 21Shares preparing for launch, the XRP ETF market is becoming increasingly competitive. At the same time, Ripple has released a new XRP Ledger update aimed at improving network stability and expanding DeFi features, supporting the asset’s long-term outlook as institutional adoption continues to rise.

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