SEC Filing Puts 21Shares XRP ETF Back in Focus

The U.S. Securities and Exchange Commission has published an 8-K filing related to the 21Shares XRP ETF (ticker: TOXR), drawing fresh attention to one of the handful of spot XRP funds now trading on U.S. exchanges.

What the Filing Actually Says

The filing centres on a licensing agreement between 21Shares US LLC and FTSE International Limited, under which FTSE will provide a non-exclusive, worldwide licence to access and use its index data to support the fund. The relevant benchmark is the FTSE ripple:native Index, which will serve as the reference price for the fund's $XRP exposure. Importantly, this is a backend pricing change, not a new product approval or a fresh market launch. The change is not expected to have a material impact on the fund's net asset value or results of operations.

The shift is part of a broader transition: 21Shares notified CF Benchmarks on June 30, 2026 that it would terminate its existing pricing benchmark licence, effective August 31, 2026. That agreement had licensed the CME CF XRP-Dollar Reference Rate (New York Variant), used to value the trust's shares and calculate NAV. The move to FTSE follows as the planned successor. The broader set of 8-K filings also confirmed new fund names and a revised fee schedule across 21Shares' Bitcoin, XRP, Dogecoin, Ethereum, and Polkadot products. Existing shareholders retain the same shares throughout the transition.

Fund Background and Current Scale

TOXR has been trading on the Cboe BZX Exchange since December 11, 2025. The fund is a passive vehicle designed to track the price of XRP through direct holdings of the cryptocurrency, without the use of leverage or derivatives. Bank of New York Mellon and Coinbase provide custody services.

By August 26, 2026, the ETF held approximately $149.67 million in net assets, down from a peak of roughly $247.66 million recorded at end-2025, a period during which $XRP prices declined sharply. TOXR charges an annual sponsor fee of 0.30% of net asset value, accrued daily and paid weekly in XRP. The fund was the fifth U.S. spot XRP ETF to launch, joining products from Canary Capital, Bitwise, Franklin Templeton, and Grayscale.

Sources:
SEC EDGAR: 21Shares XRP ETF Form 8-K (FTSE licensing agreement)
TradingView: 21Shares XRP ETF to end CF Benchmarks pricing licence, shifting to new index provider
StockTitan: 21Shares XRP ETF (TOXR) quarterly report