The XRP community woke up to a cryptic message from prominent asset management company 21Shares.
Specifically, 21Shares wrote in a post to X, “Can you keep a secret?”
However, it didn’t remain a secret for long, as community members quickly speculated that the hint was related to 21Shares’ widely anticipated Spot XRP ETF (TOXR).
Notably, the ETF has now been approved and is expected to begin trading on Monday. With this move, 21Shares becomes the latest major player in the growing XRP ETF market.
Could you please keep a secret? 👀🎨
— 21shares US (@21shares_us) November 28, 2025
21Shares’ XRP ETF is now official
21Shares secured approval for its U.S. Spot XRP ETF with a Form 8-A filing dated November 20th. The product will be listed on the Cboe BZX exchange under the ticker TOXR and will be subject to a 0.50% management fee. Trading begins on Monday, making the company the fifth spot XRP ETF to operate in the United States.
The listing comes just days after a new fund from Grayscale and Franklin Templeton debuted. Grayscale’s GXRP collected $67.36 million on launch day, and subsequent inflows brought total assets to $71.68 million.
Meanwhile, Franklin Templeton’s XRPZ brought in $62.59 million on its first day and now has total assets under management of $85.41 million.
XRP ETF Momentum Reaches $666 Million Inflows
According to SoSoValue, the existing Spot XRP ETF has already recorded $666 million in net inflows in less than a month. The total net assets amounted to $687.81 million, which is approximately 0.52% of XRP’s market capitalization, and achieved zero outflows during the entire 10-day trading period.
The day with the most inflows was Nov. 14, when Canary Capital’s ETF debuted, with $243 million. On November 24th, there was a massive inflow totaling $164.04 million coinciding with the launch of Grayscale and Franklin Templeton’s XRP ETF.
Most recently, as of Friday’s close, $22.68 million had flowed into XRP ETF products in one day. So far, the XRP ETF has not recorded any outflows over the past 10 trading days.
XRP ETF Chart
This rapid accumulation has quietly reduced the amount of liquid XRP available on exchanges. The impact on XRP prices is not yet clear, but analysts including Jake Claver and Chad Steingraber are betting that a supply shock is imminent and could force a re-pricing.
7 ETFs available?
The 21Shares ETF becomes the fifth product to go public, and the number could soon reach seven. The next companies to enter the US XRP ETF market are CoinShares and WisdomTree, but CoinShares temporarily withdrew its application due to changes in its internal structure.
Reports last week said that 21Shares is preparing for the launch after updating its S-1 form on November 7th. Some analysts thought the added “delay language” could delay approval, but the Nov. 20 filing confirmed the ETF was ready.
Once trading begins, the fund will begin with a seed basket of 20,000 shares at a price of $25 per share, for a total initial capital of $500,000.
