21Shares Launches XRP ETF 'TOXR' Listed in the US, Fee Advantage Sparks Institutional Funds Inflow

Source: TokenPost Original Title: 21Shares Launches XRP ETF ‘TOXR’ on US Exchange… Accelerating Fee Competition and Institutional Fund Inflows Original Link: Swiss asset management company 21Shares has received approval from the U.S. Securities and Exchange Commission(SEC) to launch a new XRP exchange-traded fund(ETF). The ETF, with the ticker ‘TOXR’, is listed on the Chicago Board Options Exchange(CBOE), with a management fee of 0.30%, offering a more cost-effective option compared to existing competitors.

Investors can now gain indirect exposure to XRP prices through TOXR without directly holding tokens. This ETF operates under a trust structure, not regulated by the Investment Company Act of 1940, and investors do not have token ownership rights. 21Shares has clearly stated that TOXR is not suitable for all investors.

Market demand remains high. Before its launch, XRP-related ETF products recorded a net inflow of $954.3 million. The leading XRP ETF market player is Canary’s ‘XRPC’, managing assets worth $352 million. Among competing products, only Franklin Templeton’s ‘XRPZ’ has a lower fee than TOXR.

Previously, 21Shares launched the AXRP exchange-traded product(ETP) in the European market in 2019, now managing assets worth $574 million, with a cumulative return of 459.81% since listing.

21Shares emphasizes four core values of XRP: First, a large XRP community base; second, the enterprise-level public blockchain XRP Ledger operating since 2012; third, practical applications in payments, tokenization, DeFi, etc.; fourth, XRP ranks fourth in the cryptocurrency market by market capitalization.

The launch of the XRP ETF marks an acceleration in the diversification of this asset class, and SEC’s explicit approval will have a positive demonstration effect on the cryptocurrency ETF ecosystem.