21shares Broadens US Spot Crypto Lineup with the Launch of XRP ETF (TOXR)

NEW YORK, Dec. 11, 2025 (GLOBE NEWSWIRE) -- 21shares, one of the world’s largest issuers of cryptocurrency exchange traded products (ETPs), today announced the launch of the 21Shares XRP ETF (TOXR) on CBOE. The launch of TOXR provides investors the ability to gain exposure to XRP through their existing bank or brokage, enabling them to participate in one of the leading blockchains in cross-border transactions and the potential future of global payments. With a total expense ratio (TER) of 0.30%, TOXR tracks the performance of XRP.

TOXR is not registered under the Investment Company Act of 1940, as amended (" '40 Act"), and is not subject to the same regulations and protections as '40 Act registered ETFs and mutual funds. TOXR is subject to significant risk and heightened volatility. XRP assets are not suitable for an investor who cannot afford the loss of the entire investment. An investment in TOXR is not a direct investment in XRP.

“21shares is committed to providing U.S. based investors with unparalleled access to the world’s leading cryptocurrencies, and this launch is another example of this effort,” said Russell Barlow, CEO of 21shares. “We play an instrumental role in creating financial products that capture the innovative technologies transforming our industry, and we’ve leveraged our nearly eight years of experience developing, launching and managing crypto exchange-traded products around the world to bring TOXR to the U.S. market.”

XRP is currently the fourth largest cryptocurrency by market capitalization¹. XRP has gained significant traction from institutions due to the speed and cost efficiency of its payment network. Currently, XRP is actively connecting payment systems in more than 55 countries and is being utilized by over 100 financial institutions, with some governments testing its technology for official cross-border payment solutions.²

21shares has employed a multi-custody approach to its US spot crypto ETPs as a crucial risk management strategy, and having multiple custodians provides enhanced security and improves the overall operational excellence of the firm’s product lineup. 21shares’ custody partners include Coinbase, Anchorage Digital Bank and BitGo, all selected due to their track records in regulatory compliance, safety, and security.

Flow Traders acts as the lead market maker for TOXR. 21shares’ partnership with Flow Traders provides liquidity and institutional access to crypto markets.

Commenting on today’s announcement, Federico Brokate, Global Head of Business Development at 21shares said: “We are seeing increased demand from U.S.-based clients for diversified crypto exposure and expect adoption of cryptocurrencies to continue to rise exponentially in the coming months and years. The launch of TOXR will play a meaningful role to satisfy the growing investor appetite for cryptocurrencies in the U.S. market, and we are thrilled to offer investors exposure to XRP and the Ripple ecosystem.”

Since 21shares entered the U.S. market in 2022, the company has been ambitiously growing its presence. As of November 2025, the company’s assets under management (AUM) is over $8 billion, and currently offers five ETPs in the U.S. Through this commitment to increasing investor access to a wide variety of cryptocurrencies, 21shares has become one of the world’s largest and most diversified crypto-native issuers of ETPs.

About 21shares
21shares is one of the world’s leading cryptocurrency exchange traded product (ETP) providers and offers one of the largest suites of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto ETPs that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21shares delivers innovative, simple and cost-efficient investment solutions.

21shares is a subsidiary of FalconX, one of the world's largest digital asset prime brokers. 21shares maintains independent operations from FalconX while strategically leveraging the resources and reach of FalconX to accelerate its mission and unlock new growth. For more information, please visit www.21shares.com.

Media Contact
Audrey Belloff: audrey.belloff@21shares.com
Alethea Jadick: ajadick@sloanepr.com

Important Information
Investing involves risk, including the possible loss of principal. There is no assurance that TOXR (“the Fund”) will generate a profit for investors.

There are special risks associated with short selling and margin investing. Please ask your financial advisor for more information about these risks. XRP is a relatively new asset class, and the market for XRP is subject to rapid changes and uncertainty. XRP is largely unregulated and XRP investments may be more susceptible to fraud and manipulation than more regulated investments.

XRP is subject to unique and substantial risks, including significant price volatility and lack of liquidity, and theft. The value of an investment in the Fund could decline significantly and without warning, including to zero. XRP is subject to rapid price swings, including as a result of actions and statements by influencers and the media, changes in the supply of and demand for XRP, and other factors. There is no assurance that XRP will maintain its value over the long-term.

The trading prices of many digital assets, including XRP, have experienced extreme volatility in recent periods and may continue to do so. Extreme volatility in the future, including further declines in the trading prices of XRP, could have a material adverse effect on the value of the Shares and the Shares could lose all or substantially all of their value.

Failure by the Fund’s XRP Custodian to exercise due care in the safekeeping of the Fund’s XRP could result in a loss to the Fund. Shareholders cannot be assured that the XRP Custodian will maintain adequate insurance with respect to the XRP held by the custodian on behalf of the Fund.

The Fund is not actively managed and will not take any actions to take advantage, or mitigate the impacts, of volatility in the price of XRP. An investment in the Fund is not a direct investment in XRP. Investors will also forgo certain rights conferred by owning XRP directly. Shares of the Fund are generally bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Only Authorized Participants may trade directly with the Fund and only large blocks of Shares called "creation units." Your brokerage commissions will reduce returns.

If an active trading market for the Shares does not develop or continue to exist, the market prices and liquidity of the Shares may be adversely affected.

Shares in the Fund are not FDIC insured and may lose value and have no bank guarantee.

This material must be accompanied or preceded by a prospectus. Carefully consider the Fund’s investment objectives, risk factors, and fees and expenses before investing. For further discussion of the risks associated with an investment in the Fund please read the Fund’s prospectus: https://www.21shares.com/en-us/product/TOXR

The Marketing Agent is Foreside Global Services, LLC

21Shares US LLC is the Sponsor to the Fund.

21Shares is not affiliated with Foreside Global Services LLC

¹ “Cryptocurrency Prices, Charts and Market Capitalizations.” CoinMarketCap, coinmarketcap.com/
² NOWpayments.io. “Banks Use XRP in 2025: Ripple Network for Cross-Border Payments.” August 22, 2025. https://nowpayments.io/blog/banks-us

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