Crypto News: Institutional Inflows Hit $666 Million as 21Shares XRP ETF Launches

21Shares’ XRP ETF will begin trading on Monday. The total XRP ETF inflows have reached $666 million in under a month.

21Shares is set to begin trading its spot XRP ETF in the U.S. on Monday under the ticker TOXR. 

The launch comes as institutional demand for XRP ETFs has reached $666 million in inflows within a month. The ETF will list on the Cboe BZX Exchange, making 21Shares the fifth issuer to bring an XRP fund to the U.S. market.

21Shares XRP ETF to Trade Under Ticker TOXR

A recent regulatory filing confirmed that the U.S. Securities and Exchange Commission (SEC) has cleared 21Shares to launch its XRP ETF. 

The ETF will trade under the ticker TOXR and track the CME CF XRP-Dollar Reference Rate. This structure allows investors to gain price exposure to XRP without directly holding the token.

The listing follows 21Shares’ Form 8-A registration, which is one of the final steps for launching a U.S.-listed ETF. 

With this approval, 21Shares joins other issuers, including Grayscale and Franklin Templeton, who recently launched XRP ETFs. These earlier listings have already recorded large volumes on their first trading days.

The addition of TOXR brings the total number of XRP ETFs trading in the U.S. to five. 

It enters a competitive market environment but benefits from rising interest in crypto-based financial products among institutional investors. The product aims to provide secure and regulated access to XRP’s price performance.

XRP ETFs See $666 Million in Net Inflows

According to SoSoValue, XRP ETFs have seen $666 million in net inflows since their launch. The current net assets of these funds stand at $687.81 million. This total now accounts for 0.52% of XRP’s circulating market cap.

The inflows have been consistent, with no recorded outflows in the same period. The largest inflow day came on November 14 when Canary launched its product. Interest has continued to grow, with $22.68 million entering the funds just yesterday.

As more assets move into ETFs, custodians hold increasing amounts of XRP in secure vaults. This has led to a reduction in liquid supply on public exchanges. This trend shows rising institutional interest in gaining exposure to XRP through regulated investment products.

Related Reading:  21Shares Launches 20-Day Countdown for XRP ETF Following SEC Filing

CoinShares Withdraws XRP ETF Filing Amid Market Changes

CoinShares has withdrawn its application to launch an XRP ETF in the U.S. The decision came after the firm submitted multiple amendments to its filing between August and October. No specific reason was given in the withdrawal notice.

Industry analyst Chad Steingraber stated that CoinShares may be restructuring its business model. This could have influenced the decision to pause its ETF launch plans. He added that the company might revisit the filing after the changes are complete.

The withdrawal narrows the list of active XRP ETF issuers, but the market continues to grow. With the addition of 21Shares, investor access to XRP through traditional investment channels remains strong. The ongoing inflows suggest that interest in XRP as an asset class is still building.

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