Quick Takeaways:
- 21Shares launches its new XRP ETF (TOXR) on CBOE.
- Coinbase, Anchorage Digital Bank, and BitGo will provide custodial support.
- Recent weeks saw multiple XRP ETF launches from Grayscale, Canary Capital, and REX Shares.
Growing Interest in XRP Investment Products
21Shares has introduced its new XRP ETF, trading under TOXR, on the CBOE exchange. The fund tracks XRP, the fourth-largest cryptocurrency by market cap. The firm said the product aims to serve rising U.S. demand for regulated XRP exposure.
Federico Brokate, global head of business development at 21Shares, said the new ETF will help meet the growing appetite for crypto-focused investment tools in the United States.
More Firms Join the XRP ETF Race
This release comes after a surge of XRP ETFs hitting the market. In recent weeks, companies such as Grayscale, Canary Capital, and REX Shares have launched their own XRP-related products.
XRP is powered by Ripple Labs and is widely used for fast and low-cost international money transfers. The asset’s strong global utility continues to attract institutional and retail attention.
Enhanced Security Through Multiple Custodians
To increase security, 21Shares selected three major custodians for TOXR: Coinbase, Anchorage Digital Bank, and BitGo. The firm said this multi-custodian approach will boost operational reliability and asset protection.
21Shares already operates several crypto ETFs, including products tied to Solana. Its expanding lineup reflects the firm’s strategy to offer diversified access to leading digital assets.
U.S. Interest, in Gaining Crypto Exposure Continues to Grow
Brokate noted that the company is seeing growing attention from investors in the U.S. seeking engagement with cryptocurrency. He expects adoption to rise as regulated products enter the marketplace.
The introduction of TOXR marks another step in bringing XRP to mainstream investment rails, offering a new entry point for investors looking to explore the Ripple ecosystem through familiar ETF structures.