According to recent regulatory filings, 21Shares will list its spot XRP ETF on the Cboe BZX Exchange on December 1, 2025. The product, called the 21Shares Core XRP Trust, will trade as TOXR and carry a 0.50% management fee.
The ETF tracks the CME CF XRP-Dollar Reference Rate, giving investors access to the spot XRP price without handling the token directly. The trust holds physical XRP in custody, using a structure similar to US spot Bitcoin and Ethereum ETFs. Anchorage and BitGo provide cold storage and multi-signature security for the fund’s underlying holdings.
Seed capital begins with 20,000 shares priced at $25 each, for an initial value of $500,000. Market participants can create and redeem baskets of shares each day so that TOXR trades close to the value of its XRP holdings. This framework allows institutional investors to gain XRP exposure through a familiar exchange-traded format.
The listing makes 21Shares the fifth issuer of a in the US market. It joins existing funds from Bitwise, Grayscale, Franklin Templeton, and Canary Capital, all of which have launched within recent weeks.
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