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XRP Spot ETF has been launched in a cluster, with institutions rushing to raise 666 million USD, driving a weekly big pump of 12%.
[Coin World] The institutional buying frenzy for XRP is getting more and more lively.
21Shares has just launched their spot XRP ETF (ticker TOXR) on Cboe, making them the fifth major player to jump in and share the cake after Canary Capital, Franklin Templeton, Grayscale, and Bitwise. Since mid-November, these companies have successively launched products that have attracted $666 million into the market—directly pushing XRP up 12% in a week, now stabilizing around $2.20.
The design of this product by 21Shares is quite standard: it anchors to the CME XRP/USD reference price, and the physical tokens are entrusted to two custodians, Anchorage and BitGo. From the looks of it, the recognition of XRP in the traditional financial sector is indeed accelerating into realization.