- Multiple XRP ETFs are set to debut as XRP trades above $2.10, signaling rising institutional demand into year-end

The planned rollout of a new spot XRP exchange-traded fund moved a step closer this week after 21Shares completed an 8-A filing with the U.S. Securities and Exchange Commission (SEC), making the product automatically effective.

The filing positions the 21Shares XRP ETF for trading on the Cboe BZX Exchange under the ticker "TOXR," with the debut expected as early as next week once the exchange completes its listing certification. The development comes during a period of heightened activity around XRP-linked products, including multiple issuers preparing to launch new ETFs across U.S. exchanges.

Auto-Effectiveness Clears Path for Cboe Listing

According to the 8-A submission, Cboe BZX Exchange has approved the listing application for the TOXR ETF. The product's auto-effectiveness follows the issuer's Form S-1 filing on November 7 and likely reflects the SEC's accelerated review framework implemented after the recent government shutdown.

The registration states that 21Shares will disclose fee information at a later stage. Other issuers launching XRP products have already published their structures, with Franklin Templeton confirming a 0.19% fee for its XRPZ ETF. Bitwise also confirmed that its XRP ETF will begin trading on November 20 on NYSE Arca, while Grayscale and Franklin Templeton's products are set to go live on Monday.

Product Structure and Operational Details

The trust aims to offer direct exposure to XRP (CRYPTO: $XRP) by tracking the CME CF XRP-Dollar Reference Rate, a spot pricing benchmark. Coinbase (NASDAQ: $COIN) Custody, Anchorage Digital Bank, and BitGo Trust will serve as custodians for the underlying XRP. BNY Mellon has been appointed as the administrator, transfer agent, and cash custodian, while Foreside Global Services will act as the marketing agent.

Initial seed capital for the TOXR ETF will come from 21Shares US LLC, which is expected to purchase creation baskets totaling 10,000 shares at launch.

Market Context as XRP Holds Above $2.10

The ETF move comes as XRP trades near $2.12, moving 1.06% lower over the past 24 hours. Market data shows $6.14 billion in daily trading volume and a market capitalization of $127.84 billion. XRP is currently ranked fourth globally, supported by a circulating supply of 60.17 billion tokens out of a maximum 100 billion.

With several XRP ETFs preparing to enter the market within days, trading venues and issuers are preparing for a notable expansion in XRP-based investment vehicles ahead of year-end.

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