21Shares Spot XRP ETF Set to Launch Nov. 29 on Cboe BZX Under TOXR Ticker

21Shares’ spot XRP exchange-traded fund (ETF) has been earmarked for a November 29 launch on the Cboe BZX Exchange, after the U.S. Securities and Exchange Commission (SEC) approved an updated 8-A form from the digital asset manager.

The regulatory greenlight comes as U.S. spot XRP ETFs from Grayscale, Franklin Templeton, Canary Capital, and Bitwise registered a cumulative net inflow of $164.1 million on Monday.

21Shares’ TOXR Spot XRP ETF to Start Trading on Cboe BZX on November 29

According to an S-1 Form submitted on November 7, the ETF offering regulated exposure to the spot performance of the fourth-largest cryptocurrency by market capitalization will trade on Cboe BZX under the ticker symbol TOXR, with a 0.50% management fee. The fund seeks to raise $500,000 in initial capital.

The S-1 registration, made under Section 8(a) of the federal Securities Act of 1933, triggered a 20-day SEC review period that concluded without intervention, resulting in the 21Shares product receiving an automatic regulatory approval. TOXR is structured to track the market performance of XRP using the CME CF XRP Dollar Reference Rate New York Variant (XRPUSD_NY) as its pricing benchmark.

Just days before this filing, Franklin Templeton and Grayscale Investments had submitted amended filings for their Franklin XRP ETF (XRPZ) and Grayscale XRP Trust ETF (GXRP), removing regulatory language that could have delayed an SEC approval. 

In the S-1 registration for XRPZ, Franklin Templeton eliminated the 8(a) provision, which was a regulatory clause that could potentially affect the effectiveness of an ETF filing application pending approval. Meanwhile, for GRXP, Grayscale submitted a second amendment to its Form S-1, designating key executives and legal counsel. 

Both XRPZ and GXRP made their debut on the NYSE Arca on Monday, attracting a combined $130 million in day-one inflows. This marked one of the strongest altcoin ETF debuts in history, signalling aggressive institutional appetite for regulated XRP exposure.

Canary Capital’s XRPC, the first spot XRP ETF to launch in the United States, and Bitwise’s XRP, which began trading on Nasdaq and NYSE exchanges on November 13 and November 20, respectively, also modified their filings to remove delaying amendments. These moves indicate a coordinated preparation from ETF issuers to launch their products.

The SEC’s review process examines custody structures, market surveillance arrangements, and compliance frameworks, and those elements remain central to the regulator’s oversight of digital asset investment vehicles.

Spot XRP ETFs Record $35.41m in Tuesday Inflows After Posting $164M Altcoin ETF Surge on Monday

Since launching on November 13, U.S. spot XRP ETFs have registered cumulative net inflows of $622.11 million, and are yet to witness any significant daily outflows.

According to SoSoValue data, the four listed XRP ETFs registered a daily net inflow of $35.41 million on Tuesday, with Bitwise’s XRP leading the line by attracting $21.30 million in inflows. Canary’s XRPC ($6.99 million) and Franklin Templeton’s XRPZ ($7.12 million) also saw inflows, while Grayscale’s GXRP registered none.

As of November 25, the spot XRP ETFs have attained an average trading volume of $43.76 million, while their total net assets stand at $644.64 million, representing just 0.49% of XRP’s total market cap of $132.6 billion.

However, this was a far cry from the funds’ Monday performance, when they registered $164 million in net inflows. The surge was driven by Grayscale’s GXRP and Franklin Templeton’s XRPZ, which saw $67.4 million and $62.6 million in inflows. Meanwhile, Canary’s XRPC and Bitwise’s XRP funds added $16.4 million and $17.7 million to that total.

At the time of writing, XRP is trading at $2.20 – down 1.48% in 24 hours.

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