The race to launch the first wave of XRP spot ETFs is heating up, and 21Shares is now stepping firmly into the spotlight.
21Shares joins the XRP ETF race
The asset manager has cleared final regulatory hurdles to begin trading its U.S. spot XRP ETF, set to debut on the 1st of December under the ticker TOXR on the Cboe BZX Exchange.
The approval comes at a moment of surging institutional appetite, with crypto ETFs pulling in an impressive $666 million in inflows in less than a month.
As momentum builds, 21Shares’ entry signals that competition in the Ripple [XRP] ETF arena is about to escalate fast.
That said, the green light for 21Shares’ XRP ETF comes through an automatic approval with the SEC via Form 8-A, one of the final regulatory steps needed before a crypto ETF can officially enter U.S. markets.
With this filing complete, 21Shares now joins a growing lineup of issuers racing to meet rising investor demand for XRP exposure.
The new ETF will track the CME CF XRP-Dollar Reference Rate, allowing investors to access real-time spot XRP pricing without holding the token themselves.
XRP ETF inflow analysis and more
The timing couldn’t be more aligned with market momentum.
Investor appetite for XRP-linked products has surged, reflected in the impressive inflows recorded by existing funds.
Data from SoSoValue shows that the launched XRP ETFs have pulled in $666 million in net inflows within just one month, with total net assets now sitting at $687.81 million.
Notably, there hasn’t been a single day of outflows during this period.
The strongest inflows came with Canary’s launch on the 14th of November, followed by continued momentum in recent trading sessions, including $22.68 million added just yesterday.
Several XRP-linked ETFs are already live, underscoring the rising competition among issuers.
In addition, the pipeline of proposed products is extensive, starting with the Canary XRP ETF and the Teucrium 2x Long Daily XRP ETF.
Next are the Volatility Shares XRP ETF, along with its 2x leveraged version. The lineup also includes the REX-OSPREY XRP ETF and the ProShares Ultra XRP ETF.
Finally, larger names appear, such as the Grayscale XRP ETF, the Purpose XRP ETF, and the Franklin Templeton XRP ETF.
Together, these offerings highlight the growing institutional interest in XRP-focused investment vehicles.
Many other applications remain pending, underscoring just how competitive and crowded the XRP ETF landscape is becoming.
XRP price action
Meanwhile, XRP was trading at $2.17 at press time, down 1.26% over the past 24 hours, according to CoinMarketCap.
Despite the slight pullback, the rising interest in ETF products suggests that investors are increasingly positioning for long-term exposure rather than short-term price moves.
The asset is already leading the altcoin rebound, surging 14% this week to $2.20, outpacing Ethereum [ETH] and attracting a new wave of institutional interest.
Despite being down 22% in Q4, XRP needs only a modest push to flip momentum positive, and on-chain data suggests the shift is already underway.
If this trend continues, analysts believe Ripple could be entering its next major bullish phase, one with the potential to revisit the $5 zone, echoing the explosive 200% run seen in late 2024.
Final Thoughts
- Zero outflow days across existing XRP ETFs underscore unusually strong and persistent institutional demand.
- With ETF inflows climbing and market structure strengthening, XRP may be entering a new bullish cycle.
