TLDR
- 21Shares has received automatic approval from the SEC for its XRP ETF, which will begin trading next week.
- The ETF will trade under the ticker symbol “TOXR” on the Cboe BXZ Exchange, pending final certification.
- The 21Shares XRP ETF aims to track the spot price of XRP using the CME CF XRP-Dollar Reference Rate.
- Coinbase Custody, Anchorage Digital Bank, and BitGo Trust will manage custody for the ETF.
- The ETF’s first creation basket of 10,000 shares will be sold to 21Shares US LLC as initial seed capital.
21Shares has received automatic approval from the US Securities and Exchange Commission (SEC) for its 21Shares XRP ETF. The ETF will trade under the ticker symbol “TOXR” on the Cboe BXZ Exchange, starting next week, pending final certification. This approval follows the company’s filing of Form 8-A with the SEC, allowing it to bypass the standard review process.
Form 8-A Filing and Listing on Cboe BZX Exchange
The 21Shares XRP ETF was approved after the filing of Form 8-A, which streamlined the approval process. This filing allows the ETF to move forward without the usual SEC review. The ETF has also received approval for listing from the Cboe BZX Exchange.
The Cboe BZX Exchange granted the ETF a listing, with plans for it to begin trading as soon as certification is finalized. 21Shares filed its Form S-1 on November 7, which was accelerated under the post-government shutdown provisions of the SEC guidelines. With all approvals in place, the 21Shares XRP ETF is ready for launch in the coming days.
Management Fees and Market Competition
The management fee for the 21Shares XRP ETF has not yet been disclosed. However, competitors in the space have already announced their fees. For instance, Franklin Templeton’s XRP ETF, XRPZ, offers the lowest fee at 0.19%. Other firms, such as Bitwise, Grayscale, and Franklin Templeton, are also set to launch their XRP ETFs soon.
The 21Shares XRP ETF provides a convenient way for investors to gain exposure to XRP. It will track the spot price of XRP, using the CME CF XRP-Dollar Reference Rate pricing standard. Coinbase Custody, Anchorage Digital Bank, and BitGo Trust will serve as custodians for the ETF.
21Shares XRP ETF to Boost Market Access
The first creation basket of 10,000 shares will be sold to 21Shares US LLC, marking the initial seed investment. The ETF offers an easy entry point for investors looking to add XRP to their portfolios. By providing a more straightforward way to invest in XRP, the ETF aims to expand market access for cryptocurrency investors.
As the 21Shares XRP ETF prepares to launch, the interest in XRP has surged. XRP’s trading volume increased by 29% due to multiple ETF approvals. The spike in trading volume comes as the market anticipates the impact of new XRP ETFs, such as the 21Shares XRP ETF.
As of the latest data, XRP is trading at $2.12, down 1.12% over the past 24 hours. The price fluctuated between $2.03 and $2.15 during the day. Despite this, the increase in trading volume suggests that the launch of new XRP ETFs is driving investor interest.
CoinGlass data shows a 1.45% decline in XRP futures open interest, to $3.68 billion. The XRP OI-Weighted Funding rate stands at 0.0072%. These metrics indicate how trader sentiment is responding to the growing number of XRP ETFs. However, the increase in spot trading volume suggests heightened interest in XRP, driven by developments around ETFs.
The launch of the 21Shares XRP ETF next week is expected to attract more investors, further impacting XRP’s price and trading volume.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
