FTSE Takes Over Benchmark Role in 21Shares' Crypto ETFs

21Shares has announced significant changes to its U.S. crypto exchange-traded funds (ETFs), replacing CME CF reference rates with FTSE digital-asset indices as of August 27.

The change affects several ETFs, including the firm's XRP fund, TOXR, and related single-asset products. While shareholders will see no changes to their shares themselves, the reference price behind each fund's net asset value will now come from FTSE.

FTSE takes over a crucial piece of ETF infrastructure, as the index used by an ETF determines how its underlying holdings are valued at the end of each trading day. This change follows the end of 21Shares' licensing arrangement for the previous benchmark family.