New XRP ETF launched in the US through 21Shares

Source: PortaldoBitcoin Original Title: New XRP ETF launched in the US through 21Shares Original Link: A new XRP ETF has just been launched by 21Shares, with the exchange-traded fund (ETF) debuting on CBOE on Thursday (11) under the ticker TOXR. The product aims to replicate the value of the world’s fourth-largest cryptocurrency by market capitalization.

“The launch of TOXR will play a significant role in meeting the growing appetite of investors for cryptocurrencies in the US market, and we are very pleased to offer investors exposure to XRP and the Ripple ecosystem,” said Federico Brokate, Global Head of Business Development at 21Shares, in a statement.

In recent weeks, other companies have also launched XRP ETFs, including Grayscale, Canary Capital, and REX Shares. With most of them debuting on November 19, the funds bypassed market pessimism and recorded 12 consecutive days of net inflows, totaling US$845 million during that period.

XRP is associated with Ripple Labs and was designed to enable fast, low-cost international money transfers. A regulatory compliance platform, Anchorage Digital Bank and BitGo will act as custodians for 21Shares’ XRP ETF.

“We are seeing increasing demand from clients in the US for diversified cryptocurrency exposure, and we expect cryptocurrency adoption to continue growing exponentially in the coming months and years,” Brokate said.