21Shares XRP ETF To Start Trading on Monday as Inflows Hit $666M

The 21Shares XRP ETF is set to open for trading on Monday. In less than a month, XRP ETF products have drawn $666 million in net inflows.

The 21Shares XRP ETF is scheduled to join the roster of funds already trading on the market. This comes as institutional demand increases, with ETFs receiving $666 million in inflows in less than a month of full trading.

21Shares XRP ETF to Launch on Monday

According to a new filing, the 21Shares XRP ETF has been approved to begin trading on Monday. The fund's ticker symbol will be TOXR. The fund will be listed on the Cboe BZX Exchange after receiving approval from the US SEC.

This listing follows the issuer's automatic approval with the SEC on a Form 8-A. It completes one of the final stages necessary for a US-listed crypto ETF to reach the market. The launch places 21Shares alongside large issuers who are already experiencing demand for their products.

With the upcoming offering, the fund will become the fifth XRP ETF to float in the US market in as many days. Earlier this week, other Grayscale and Franklin Templeton funds entered the market. GXRP got $67.36 million in first-day flows, while XRPZ received $62.59 million.

The 21Shares product will follow the CME CF XRP-Dollar Reference Rate. It would allow holders to gain exposure to XRP's spot price without physically holding the asset.

The new fund is being launched at a time when investor momentum is building. Already, the current funds have had significant inflows.

Institutional Inflows Hit $666M

According to SoSoValue, the released products generated $666 million in net inflows within a month. Total net assets totaled $687.81 million. For comparison, this represents approximately 0.52% of XRP's overall market capitalization.

This occurred with no documented outflows during the period. Its largest inflows happened with the debut of Canary on November 14. Inflows have increased in recent trading days. This includes the most current number of $22.68 million, which entered the products yesterday.

This stockpiling has discreetly lowered the liquid XRP exchange supply, as custodians keep tokens in controlled vaults.

Meanwhile, CoinShares has withdrawn the filing for its previously announced XRP product. The change occurred after numerous revisions were filed between August and October.

Expert Chad Steingraber observed that CoinShares is implementing modifications to its organizational structure, which is most likely the reason for the withdrawal.