21Shares Moves Closer to Rolling Out Its XRP ETF (TOXR)
21Shares is taking the final steps toward launching its long-awaited XRP ETF, making another update to its regulatory filings as the product inches toward trading under the ticker “TOXR” on Cboe. The company also trimmed its management fee from 0.50% to 0.30%, positioning itself more competitively as interest in XRP ETFs continues to build.
Key Points
- Management fee cut to 0.30% for the upcoming XRP ETF.
- Shares are set to trade under the ticker “TOXR.”
- XRP price hovers near $2.05 ahead of the FOMC meeting.
21Shares Adjusts Its Filing as XRP ETF Launch Approaches
A new amendment submitted to the U.S. SEC adds fresh updates to the prospectus for the 21Shares XRP ETF. This amendment, the fifth so far, appears to be part of the final preparations before receiving the green light to begin trading. The filing still includes a delaying amendment, suggesting the issuer is waiting for either a CERT notice or a direct approval.
The most notable change is the reduced management fee, now 0.30%, bringing the fund closer to competitors offering temporary fee waivers to attract early inflows. Assets under management across spot XRP ETFs are now nearing the $1 billion mark, highlighting increasing interest from investors watching the development of regulated XRP exposure.
Among the current products, the Franklin XRP Exchange-Traded Fund stands out with a 0.19% fee and the longest waiver window.
The issuer recently confirmed a 0.50% fee prior to this revision, along with information about its initial seed, consisting of 20,000 shares purchased at $25 each.
XRP ETF From 21Shares Is Nearly Ready to Trade
The ETF became auto-effective following a recent Form 8-A, indicating that operational steps are largely complete. Although Cboe has already approved the fund for listing, the official trading date under “TOXR” has not yet been announced.
The trust will track the spot price of XRP using the CME CF XRP-Dollar Reference Rate. Custody responsibilities will be handled by Coinbase Custody, Anchorage Digital Bank, and BitGo Trust, ensuring diversified storage for the underlying XRP.
BNY Mellon will manage cash custody and administrative functions, with Foreside Global Services acting as the marketing agent.
XRP Price Holds Above $2 as Traders Await Fed Signals
XRP is trading steadily above the $2 mark, moving within a tight range ahead of the upcoming FOMC meeting. Over the last 24 hours, XRP has fluctuated between $2.05 and $2.10, with trading volume slipping around 7%, hinting at a slowdown in activity as investors wait for macroeconomic data and the Federal Reserve’s rate decision.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
