21Shares to List Spot XRP ETF (TOXR) on Cboe BZX as XRP ETF Pipeline Advances
The issuer 21Shares has received automatic approval via a Form 8-A filing with the U.S. Securities and Exchange Commission (SEC) and is preparing to list a spot XRP exchange-traded fund (ETF) under the ticker “TOXR” on the Cboe BZX Exchange next week. The move signals growing institutional momentum toward regulated investment products tied to XRP despite current price weakness.
Coinccino 
Market Context
The announcement comes at a time when the broader crypto market is seeing renewed interest in exchange-traded vehicles for major digital assets. While much of the spotlight historically has been on Bitcoin and Ethereum, investors are increasingly looking for regulated access to alternative tokens like XRP. The fact that an issuer is now preparing to list a spot XRP ETF underscores how the institutional side of the crypto market is expanding beyond the dominant two. At the same time, the underlying token is trading lower (~US $1.98 at the time of the article) on a 24-hour drop of over 7%.
Technical Details with Attribution
- 21Shares submitted a Form 8-A filing with the SEC, which became auto-effective, clearing the way for the ETF listing.
- The fund will trade under the ticker symbol “TOXR” on the Cboe BZX.
- The preliminary prospectus is part of the Trust’s registration statement (Form S-1 filed November 7, 2025) for the shares.
- To date, 21Shares has not publicly disclosed the management fee or whether it will offer fee waivers on the ETF.
Analyst Perspectives
Analysts view this development as a notable step in the maturation of the crypto investment product landscape. Even though XRP’s price is under pressure, the institutional product pipeline is growing — which indicates confidence that regulated access matters. Some analysts caution, however, that listing an ETF does not guarantee immediate inflows; investor demand, regulatory reception and macroeconomic conditions still matter. If the product does attract material capital, it could help broaden the base of investors exposed to XRP via traditional brokerage channels rather than directly holding the token.
Global Impact Note
If the TOXR listing proceeds smoothly, it may set a precedent for further spot-XRP ETFs and deepen regulated access to alternative cryptocurrency tokens. For global markets — particularly outside the U.S. — this could encourage similar product launches, increasing institutional adoption and providing easier access to exposure in tokens beyond BTC/ETH. The move might also shape how asset managers and financial institutions view token-specific investment products in global portfolios.
