21Shares Switches TOXR Pricing to FTSE Benchmark Amid Growing XRP Demand
21Shares is making changes to its TOXR XRP ETF by switching its pricing benchmark to the FTSE XRP Index. This change will take effect on August 27 and affects only the fund's pricing methodology, not its investment strategy or custody structure. The existing licensing arrangement for the CME CF XRP-Dollar Reference Rate: New York Variant will end on August 31.
As of August 26, TOXR had around $149.7 million in assets, according to the 21Shares fund page. The ETF was launched in December 2025 and provides direct XRP exposure through a regulated product. Anchorage Digital, BitGo, Coinbase Custody, and BNY Mellon will continue to hold and administer the fund's XRP.
The switch brings TOXR closer to the benchmark framework used across other 21Shares products, potentially simplifying comparisons and operations for institutions managing several crypto ETFs. This move comes as demand for U.S. spot XRP ETFs continues to build, with cumulative net inflows reaching a record $1.55 billion.