21Shares Launches New XRP ETF on CBOE as Institutional Demand Rises

The lineup of U.S.-listed XRP investment products expanded again this week, with 21Shares launching its newest exchange-traded fund under the ticker TOXR on the CBOE.

The fund gives traditional investors direct price exposure to XRP, the fourth-largest cryptocurrency, without requiring them to hold the asset themselves.

A Push to Meet Rising Interest

Federico Brokate, head of global business development at 21Shares, said the launch comes at a moment when appetite for diversified crypto products is accelerating among U.S. investors. According to Brokate, the new ETF is meant to make it easier for investors to participate in the broader XRP ecosystem – including Ripple’s growing network for low-cost international payments.

The product arrives as several issuers race to introduce their own XRP funds. In recent weeks, Grayscale, Canary Capital, and REX Shares have all launched competing offerings, signaling a rapid institutional push around the asset.

Multiple Custodians for Added Security

To strengthen operational safeguards, 21Shares tapped Coinbase, Anchorage Digital Bank, and BitGo as custodians. The trio will collectively oversee the storage of XRP backing the ETF, a structure intended to reduce counterparty risk at a time when security practices across the industry remain under intense scrutiny.

The company already manages a suite of crypto ETPs – including a Solana-focused fund – and says U.S. client demand for broader digital-asset exposure continues to climb.

A Growing Market for XRP Investment Vehicles

With TOXR now trading, investors have more regulated pathways than ever to gain exposure to XRP, a token designed for fast settlement and widely used in cross-border payment infrastructure. As ETF issuers compete for market share, the momentum suggests that institutional and retail investors alike are looking beyond Bitcoin and Ethereum for their next wave of crypto diversification.