Breaking: 21Shares XRP ETF Gains Approval to List on Cboe Under “TOXR” Ticker

21Shares, one of the world’s largest issuers of crypto exchange-traded products, has gained automatic approval for its XRP ETF as the issuer has filed 8-A with the U.S. Securities and Exchange Commission (SEC). The 21Shares XRP ETF will likely begin trading on Cboe BXZ Exchange under the ticker symbol “TOXR” next week.

21Shares XRP ETF Goes Auto-Effective to List on Cboe BXZ Exchange

21Shares becomes auto-effective with an 8-A filing to launch its XRP ETF, as per the US SEC filing. CBOE BZX Exchange has also approved the listing of 21Shares XRP ETF shares on the exchange under the ticker symbol “TOXR.” The ETF will likely start trading next week, pending a certification of listing by the exchange.

“An application for listing of the Shares of the Trust has been filed with and approved by Cboe BZX Exchange,” as per the 8-A filing. 21Shares filed its Form S-1 on November 7 and is likely to have gained accelerated approval under the SEC’s post-government shutdown guidance.

The details regarding the management fee and a potential fee waiver are yet to be disclosed by 21Shares. Meanwhile, Bitwise, Franklin Templeton, and Grayscale have revealed their management fee, with Franklin XRP ETF (XRPZ) having the lowest 0.19% fee.

As CoinGape reported, Bitwise XRP ETF will begin trading on NYSE Arca under the ticker “XRP” on November 20. In contrast, Grayscale and Franklin Templeton’s XRP ETFs are set to launch on Monday.

Other Details of TOXR XRP ETF

The trust’s investment objective is to provide exposure to XRP, tracking spot XRP prices from the CME CF XRP-Dollar Reference Rate pricing benchmark. Coinbase Custody, Anchorage Digital Bank, and BitGo Trust will serve as the custodian for the 21Shares XRP ETF.

Notably, BNY Mellon to serve as the cash custodian, administrator, and transfer agent of the trust. Foreside Global Services is the marketing agent.

Initial seed capital investor 21Shares US LLC is expected to purchase the initial seed creation baskets comprising of 10,000 shares.

XRP Price Rebound to $2.14

XRP price rebounded 5% over the last 24 hours, after falling more than 9%. The price is currently trading at $2.12, with an intraday low and high of $2.01 and $2.17, respectively.

Trading volume increased by 26% over the last 24 hours, indicating a rise in interest among traders due to the approval of multiple ETFs, including the 21Shares XRP ETF.

CoinGlass data showed selling in the derivatives market in the last few hours. At the time of writing, the total XRP futures open interest jumped 0.30% to $3.38 billion in the last 24 hours. The 4-hour XRP futures open interest on CME climbed more than 0.56% but fell 1.17% on Binance.