21Shares XRP ETF Launches Monday as $666M Institutional Inflows Surge
21Shares is about to unleash its US spot XRP ETF on Monday, listing on the CBOE BZX Exchange - and it's got an interesting ticker symbol...
Quick overview
- 21Shares is launching its US spot XRP ETF, TOXR, on the CBOE BZX Exchange, following SEC approval.
- This marks the fifth XRP-focused ETF to debut in the US recently, with significant first-day inflows reported.
- US-listed XRP ETFs have seen a total of $666 million in net inflows in under a month, indicating strong institutional interest.
- CoinShares has unexpectedly withdrawn its XRP product filing, possibly due to internal restructuring.
21Shares is about to unleash its US spot XRP ETF on Monday, listing on the CBOE BZX Exchange – and it’s got an interesting ticker symbol – TOXR. The news comes on the back of SEC approval via that Form 8-A business, and this launch marks a big deal in the US crypto ETF space, putting 21Shares right up there with the big boys and already attracting huge demand.
This will be the 5th XRP focused ETF to land in the US in the space of a few days – hot on the heels of Grayscale and Franklin Templeton getting involved. Take, for example, GXRP – it raised $67.36 million in first-day inflows, while XRPZ raised $62.59 million. The 21Shares product is based on the CME CF XRP-Dollar Reference Rate, allowing investors to gain exposure to the spot price of XRP without actually holding the cryptocurrency.
Folks in the industry are interpreting the launch as a sign of a much bigger trend – namely the increasing interest in XRP from the big institutional players.
🚨21Shares XRP ETF set to launch on 1st December as ETF demand surges!
New ETF under ticker $TOXR gives investors direct XRP exposure without managing token storage.#XRP ETFs record $666.61 million inflows, pushing price up and reducing exchange liquidity. pic.twitter.com/PLFPWTJiZJ
— Ledger Man 🎩 (@strivex_) November 29, 2025
Institutional Inflows Reach a Whopping $666 Million
Data from SoSoValue shows that the US-listed XRP ETFs have recorded staggering $666 million in net inflows in under a month. At the same time, total net assets have risen to a not-too-shabby $687.81 million, roughly 0.52% of the total XRP market cap. And the best bit? There’s been no outflows – not a single one. Canary’s launch on the 14th of November brought in the biggest single-day inflows, and the more recent trading sessions brought in another $22.68 million.
This accumulation has reduced the circulating XRP supply on exchanges, as custodians keep their tokens locked in regulated vaults. All of which has got the industry talking about how these points point to a huge amount of confidence from the big institutional players out there who are still getting over the cold feet about investing in crypto, but are now happy with the idea of getting regulated access to crypto exposure.
Some of the highlights of these recent inflows are:
- Total net inflows: $666 million – all in less than a month
- Most significant single-day inflow: That was during Canary’s launch on the 14th of November
- Latest inflow: $22.68 million – and it’s been pretty steady lately
- Reduced the amount of liquid XRP floating around on exchanges as it’s been safely stored away in vaults
🚨 🚨 🚨 21Shares files Form 8‑A — U.S. spot $XRP ETF 'TOXR' to begin trading on Cboe BZX on Dec 1, will hold physical XRP with Anchorage and BitGo custody
Bullish 🚀 pic.twitter.com/Zmp4ysWQDK
— Amonyx (@amonbuy) November 29, 2025
CoinShares Withdraws XRP Filing
While all this is going on, CoinShares has suddenly gone quiet on their previously announced XRP product. It was waiting in the wings, having submitted multiple amendments in August and October, then, out of the blue, the whole thing was pulled. Some experts, including Chad Steingraber, reckon the withdrawal might be down to internal restructuring at CoinShares.
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