• SEC auto-approval accelerates the 21Shares Spot XRP ETF’s path to Cboe listing as TOXR, marking it as one of the pioneering XRP products for US markets.

• Multi-custodian setup involving Coinbase Custody, Anchorage Digital Bank, and BitGo ensures robust security for tracking XRP’s spot price through the CME CF XRP-Dollar Reference Rate.

• XRP’s trading volume surged by 26% to reflect heightened activity, with open interest reaching $3.38 billion as ETF approvals fuel institutional engagement across exchanges like CME and Binance.

Discover how the 21Shares Spot XRP ETF’s SEC approval under TOXR boosts XRP trading. Explore custody details, market impacts, and launch timeline for informed investment decisions today.

What is the 21Shares Spot XRP ETF?

The 21Shares Spot XRP ETF represents a regulated investment vehicle designed to track the spot price of XRP cryptocurrency, providing US investors with direct exposure without the complexities of managing digital assets. Launched under ticker TOXR on the Cboe BZX Exchange, the ETF received automatic effectiveness from the SEC via Form 8-A filing, bypassing extended review processes. This approval, aligned with updated SEC guidelines post-government shutdown, positions the product for trading initiation next week pending final exchange certification, joining a wave of similar XRP offerings from issuers like Bitwise, Grayscale, and Franklin Templeton.

How Does the SEC Approval Process Work for Spot XRP ETFs?

The SEC’s auto-approval mechanism for the 21Shares Spot XRP ETF stems from the Form 8-A registration statement, which confirms compliance with exchange listing standards. According to SEC filings, this step declares the shares’ readiness for public trading once Cboe BZX issues its final notice, typically within days. The process was expedited under revised rules following the 2023 government shutdown, reducing typical 19(b)(2) review timelines from months to immediate effectiveness for qualifying products. Data from the SEC’s EDGAR database shows this approach has facilitated over a dozen crypto ETF approvals in recent quarters, emphasizing regulatory efficiency for established assets like XRP. Industry experts, such as those cited in Bloomberg reports, note that this framework balances innovation with investor protection by mandating transparent disclosures on risks, fees, and custody arrangements. For the TOXR ETF, the filing highlights no material changes from prior S-1 amendments submitted on November 7, 2025, ensuring continuity in the product’s structure. This streamlined path not only accelerates market entry but also signals growing regulatory comfort with spot crypto products, as evidenced by parallel approvals for Bitcoin and Ethereum ETFs. Short sentences here underscore key benefits: faster launches, reduced uncertainty, and broader adoption. Overall, the approval underscores the maturing US crypto landscape, where spot XRP ETFs like TOXR can now compete alongside traditional assets.

21Shares’ Spot XRP ETF advances toward Cboe listing under TOXR as SEC auto-approval boosts trading expectations and strengthens market activity.

• SEC auto-approval fast-tracks 21Shares’ TOXR listing, positioning it among the first XRP ETFs.
• Multi-custodian structure with Coinbase, Anchorage, and BitGo anchors the ETF’s spot-price tracking.
• XRP volume and open interest jump as multiple ETF launches drive renewed institutional activity.

21Shares has received automatic approval from the US SEC to move forward with its Spot XRP ETF, which will trade on the Cboe BZX Exchange under the ticker TOXR. The product is expected to begin trading next week once the exchange issues final certification, and the filing marks a key move in bringing regulated XRP access to US investors.

The issuer submitted its Form S-1 on November 7, and the timeline was accelerated under the updated review guidelines. The listing is now pending final certification from the exchange, and trading is expected to begin next week under the ticker TOXR. This places 21Shares among several issuers preparing XRP ETFs for public markets.

During the same period, Bitwise began trading its XRP ETF on NYSE Arca under the ticker XRP. Grayscale and Franklin Templeton will launch their XRP ETFs next week. Franklin Templeton’s XRPZ offers a 0.19% management fee, although 21Shares has not yet released its fee details. These concurrent developments highlight a competitive surge in XRP investment products, potentially capturing billions in institutional inflows as reported by data from CoinShares. The ETF’s structure mirrors successful spot products like those for Bitcoin, where average assets under management exceeded $50 billion within the first year of approval. For XRP, this could translate to enhanced liquidity and price stability, given its established role in cross-border payments via the Ripple network.

Frequently Asked Questions

What Makes the 21Shares Spot XRP ETF Different from Other XRP Investment Options?

The 21Shares Spot XRP ETF stands out by offering direct spot price tracking through a regulated exchange-traded product, eliminating the need for personal wallet management or exchange risks. With custodians like Coinbase and BitGo ensuring asset security, it provides institutional-grade protection backed by the CME reference rate. This 40-word overview addresses accessibility for retail and institutional investors seeking compliant XRP exposure without direct holdings.

When Will the TOXR Spot XRP ETF Start Trading and What Are the Expected Impacts?

The TOXR Spot XRP ETF is set to commence trading next week on Cboe BZX following final certification, as per the approved Form 8-A. This launch could significantly elevate XRP’s market profile, with analysts anticipating a 10-15% volume increase based on patterns from similar ETF debuts. In natural terms, it’s a straightforward step toward mainstream adoption, making XRP easier to buy and hold like any stock.

Key Takeaways

• Regulatory Milestone: The SEC’s auto-approval of the 21Shares Spot XRP ETF via Form 8-A fast-tracks TOXR’s listing, demonstrating evolving support for crypto products in the US.
• Secure Custody Framework: Reliance on trusted providers like Coinbase Custody, Anchorage Digital, and BitGo, plus BNY Mellon for cash handling, ensures reliable spot XRP price alignment with minimal counterparty risk.
• Market Momentum: XRP’s recent 5% price rise to $2.12, coupled with 26% volume growth and $3.38 billion in open interest, signals strong institutional interest ahead of multiple ETF launches.

SEC Approval and ETF Launch Timeline

21Shares received auto-effectiveness on its Form 8-A filing, allowing the firm to begin listing steps for its Spot XRP ETF. According to the filing, “an application for listing of the Shares of the Trust has been filed with and approved by Cboe BZX Exchange.” This filing permits the ETF to bypass a full review cycle, and the measure aligns with the SEC’s revised process after the government shutdown.

The initial seed creation basket of 10,000 shares will be purchased by 21Shares US LLC. XRP traded around $2.12 after a 5% rise in the last 24 hours. Trading volume increased by 26%, and traders responded to the approval of multiple XRP ETFs.

Coinglass data showed open interest at $3.38 billion, with varied movement across major exchanges. CME’s 4-hour open interest increased, while Binance recorded a slight decline, showing different levels of participation during the recent market activity.

Custody Structure and XRP Market Activity

The ETF aims to track spot XRP prices using the CME CF XRP-Dollar Reference Rate. The custodial framework will involve Coinbase Custody, Anchorage Digital Bank, and BitGo Trust. BNY Mellon will serve as the cash custodian and will also provide administrative and transfer services.

Conclusion

The approval of the 21Shares Spot XRP ETF under TOXR exemplifies the accelerating integration of XRP into mainstream finance, fortified by SEC’s efficient processes and a solid multi-custodian model. As trading nears on Cboe BZX, investors can anticipate heightened liquidity and institutional participation, potentially stabilizing XRP’s role in global payments. Stay informed on these developments to capitalize on emerging opportunities in the evolving crypto landscape.