- XRP ETFs show rising demand as new funds enter the market and attract strong investor interest.
- Inflows continue to grow and reduce liquid XRP supply while custodians store more tokens securely.
- Issuers adjust strategies as new XRP products launch and reshape participation in the expanding market.
21Shares’ XRP ETF is set to begin trading on Monday after receiving clearance for its U.S. spot listing. The fund will appear under the ticker TOXR on the Cboe BZX Exchange.
The approval followed an automatic process through a Form 8-A, which marked one of the final steps needed for a crypto ETF to enter the U.S. market. The listing adds another option for institutions that continue to increase exposure to digital asset products.
Growing Lineup of XRP Funds
The new ETF becomes the fifth XRP-focused product to list in the United States within days. Other issuers introduced their funds earlier in the week. Grayscale revealed plans to launch the GXRP spot ETF on November 20. Grayscale’s GXRP recorded $67.36 million in first-day flows. Franklin Templeton’s XRPZ posted $62.59 million on its launch day. These listings expanded the field quickly as interest continued to build.
With TOXR entering the market, 21Shares now joins issuers that already see rising demand. The rapid sequence of launches signals a shift in how firms approach the XRP market. It also broadens access for investors who want regulated exposure without holding the token directly.
Tracking the Reference Rate
The 21Shares product tracks the CME CF XRP-Dollar Reference Rate. The structure offers exposure to the spot price while avoiding the need for direct custody. This design aligns with trends across other crypto ETFs. It also supports institutions that want clearer operational processes.
The timing supports a market where interest has been rising. The new option comes as investors continue to direct capital into existing products. Trading volumes and inflows have expanded steadily during the month.
Strong Inflows and Reduced Liquid Supply
Data shows the listed XRP funds recorded $666 million in net inflows during less than a month of full trading. Total net assets reached $687.81 million. The value amounted to about 0.52 percent of XRP’s total market cap. Market participants noted the absence of any outflows during the period.
Momentum increased after Canary’s debut on November 14. The most recent trading day added $22.68 million in fresh inflows. This accumulation has reduced liquid XRP supply on exchanges. Custodians hold the purchased tokens in secure vaults. As a result, fewer tokens remain in active circulation.
Shifts in Issuer Activity
While new products entered the market, other issuers adjusted their plans. CoinShares withdrew its filing for a previously expected XRP ETF. The move followed several amendments submitted in August and October. Observers linked the withdrawal to changes within the firm’s structure. The adjustment signaled an internal shift as the broader market expanded.
