As was just announced, the SEC approved 21Shares’ new exchange-traded fund on XRP under ticker TOXR, adding a fresh product to a segment that already pulled in $954.33 million in inflows. It would be hard to imagine a clearer sign that investor demand for XRP exposure is active before TOXR even posts its first line of flow data.
TOXR lists on CBOE with a 0.30% fee and enters a lineup where, right now, the leader is XRPC by Canary with net assets as high as $352.02 million. The intriguing part, though, is that the latter fee is 0.5%, and the only cheaper option besides TOXR is XRPZ by Franklin Templeton.
21Shares is not a stranger in the XRP-focused investment products field. The firm already runs AXRP in Europe, an ETP launched in 2019 with $573,68 million in AUM and long-term performance of 459.81% since inception, even after recent one-month and three-month drawdowns.
Four reasons why XRP matters
As for TOXR, it is structured as a trust, not an instrument regulated under the 1940 Act, meaning holders gain exposure to XRP’s price but not to rights associated with owning the token directly — a distinction 21Shares makes stand out in its disclosure, noting that risk levels remain high, and the product is not suitable for all investors.
The case for XRP inside this ETF rests on four straightforward fundamentals: the asset is supported by the XRP Army, one of the most persistent communities in crypto; XRP Ledger has operated as a public blockchain for business use since 2012; real-world adoption spans payments, tokenization and DeFi; and, finally, XRP sits as the fourth-largest cryptocurrency by market capitalization.