21Shares has secured automatic approval for its XRP Exchange-Traded Fund (ETF) after filing an 8-A form with the U.S. Securities and Exchange Commission (SEC). This filing has cleared the way for the launch of the 21Shares XRP ETF, which is set to be listed on the Cboe BZX Exchange under the ticker symbol “TOXR.” The ETF is expected to begin trading next week, contingent on the exchange’s certification of the listing.
The SEC’s approval marks a key milestone for 21Shares, a major issuer of cryptocurrency exchange-traded products. The approval follows a Form S-1 filing on November 7, indicating that the application likely received expedited approval under the SEC’s post-shutdown guidance.
While the management fee and any potential fee waiver for the 21Shares XRP ETF have not been disclosed yet, competitors such as Bitwise, Franklin Templeton, and Grayscale have already revealed their fees. Notably, Franklin Templeton’s XRP ETF (XRPZ) features a relatively low management fee of 0.19%.
Impact on the XRP Market and ETF Landscape
The approval of the 21Shares XRP ETF highlights the increasing institutional interest in the cryptocurrency market. While several financial institutions have already launched crypto-based ETFs, 21Shares’ XRP-focused product represents an important development in the mainstream acceptance of digital assets.
As more institutional products like ETFs are launched, the broader market for cryptocurrencies continues to evolve.
The introduction of a dedicated XRP ETF could offer a safer investment vehicle for those hesitant about directly holding cryptocurrencies. It further signals the growing integration of digital assets into the traditional financial market.
Given XRP’s volatility in recent years, the ETF could help stabilize the market by providing a regulated platform for investors. It may also increase XRP’s credibility, attracting those hesitant to engage directly due to regulatory uncertainties.
Grayscale and Bitwise ETFs Further Solidify XRP’s Role in Financial Markets
Grayscale’s highly anticipated XRP ETF is set to launch on Monday, November 24, 2025, according to James Seyffart. This launch further strengthens the relationship between traditional financial markets and cryptocurrencies. Grayscale’s ETF will provide institutional investors with an easily accessible, regulated way to gain exposure to XRP, enhancing its position in the growing digital asset space.
Additionally, Bitwise Asset Management is launching its spot XRP ETF today on the New York Stock Exchange (NYSE), under the ticker symbol XRP. This marks another step in cryptocurrency’s integration into the financial mainstream.