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The new XRP ETF launched in the US by 21Shares
Source: PortaldoBitcoin Original Title: New XRP ETF Launches in the US via 21Shares Original Link: 21Shares Launches New XRP ETF, the exchange-traded fund (ETF) was listed on CBOE on Thursday (11th), with the ticker TOXR. The product aims to replicate the value of XRP, the fourth-largest cryptocurrency by market cap worldwide.
Federico Brokate, Head of Global Business Development at 21Shares, stated in a release: “The launch of TOXR will play an important role in meeting the increasing demand for cryptocurrencies in the US market. We are pleased to offer investors exposure to XRP and the Ripple ecosystem.”
In recent weeks, other firms such as Grayscale, Canary Capital, and REX Shares have also launched XRP ETFs. Most of these funds listed on November 19, defying the market trend with 12 consecutive days of net inflows, absorbing a total of $845 million during this period.
XRP is associated with Ripple Labs and is designed to enable fast, low-cost international money transfers. Custodians such as Anchorage Digital Bank and BitGo will serve as custodians for the 21Shares XRP ETF.
Brokate added: “We see a growing demand among US clients for diversified cryptocurrency exposure, and we expect cryptocurrency adoption to continue growing exponentially in the coming months and years.”