21Shares is set to launch its spot XRP Exchange-Traded Fund (ETF) on the Cboe BZX Exchange on December 1st, trading under the ticker TOXR.
This launch follows the successful clearance of the SEC filing on November 28, 2025, and marks the first time a European issuer will dominate the U.S. XRP ETF space. The ETF is designed to track the CME CF XRP-Dollar Reference Rate, offering investors direct exposure to XRP’s spot price without needing to hold the token themselves.
Key Details of the TOXR ETF:
- Launch Date: December 1, 2025
- Ticker: TOXR
- Exchange: Cboe BZX Exchange
- Structure: It will hold physical XRP in secure custody (Anchorage and BitGo) and use daily creation/redemption baskets to maintain alignment with the market price.
- Expected Fee: The expense ratio is anticipated to be competitive, ranging between 0.25% and 0.40%.
Market Impact and Price Surge
The launch comes at a time of significant institutional interest, as existing U.S. spot XRP ETFs have already recorded $666.61 million in inflows. This influx has reduced the amount of liquid XRP available on exchanges, leading to a strong price increase.
- Price Movement: XRP’s price has jumped 12% this week, now trading above $2.19.
- Analyst Outlook: Analysts project that XRP ETFs could eventually attract over $50 billion. With exchange reserves falling and buying pressure rising, XRP is expected to test the $2.70–$3.00 range, especially if Bitcoin reaches $100,000.
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