The XRP community woke up to a cryptic message from prominent asset manager 21Shares.
Specifically, in a post on X, 21Shares wrote, “Can you keep a secret?”
However, it didn’t remain a secret for long as members of the community quickly deduced that the hint was related to 21Shares’ widely anticipated spot XRP ETF (TOXR).
Notably, the ETF has now been approved and will begin trading on Monday.
With this move, 21Shares becomes the newest major player in the growing XRP ETF market.
Can you keep a secret?
👀🎨— 21shares US (@21shares_us) November 28, 2025
21Shares’ XRP ETF Is Now Official
21Shares has secured approval for its U.S.
spot XRP ETF through a Form 8-A filing dated November 20.
The product will list on the Cboe BZX Exchange under the ticker TOXR and will carry a 0.50% management fee.
Trading begins Monday, marking the company’s entry as the fifth spot XRP ETF to go live in the United States.
This listing comes just days after new funds from Grayscale and Franklin Templeton debuted.
Grayscale’s GXRP attracted $67.36 million on launch day, and subsequent inflows have taken its total assets to $71.68 million.
Meanwhile, Franklin Templeton’s XRPZ brought in $62.59 million on its first day and now has $85.41 million in AUM.
XRP ETF Momentum Hits $666 Million Inflows
Existing spot XRP ETFs have already recorded $666 million in net inflows in less than a month, according to SoSoValue.
Total net assets have reached $687.81 million, representing roughly 0.52% of XRP’s market cap — all achieved with zero outflow during the entire ten-trading-day period.
The strongest inflow day came on November 14, during Canary Capital’s ETF debut, with $243 million.
Another major inflow arrived on November 24, totaling $164.04 million, coinciding with the launch of Grayscale’s and Franklin Templeton’s XRP ETFs.
Most recently, at the close of business on Friday, $22.68 million flowed into XRP ETF products in a single day.
So far, XRP ETFs have recorded no outflows throughout the last ten trading days.
This rapid accumulation has quietly reduced the amount of liquid XRP available on exchanges.
While the impact on XRP’s price has not yet been visible, there is growing expectation among analysts—including Jake Claver and Chad Steingraber—that a supply shock is looming and could force a repricing.
Seven ETFs Incoming?
With 21Shares’ ETF becoming the fifth product to list, the total number could reach seven soon.
CoinShares and WisdomTree are next in line to join the U.S.
XRP ETF market, although CoinShares temporarily withdrew its filing due to internal structural changes.
Last week, reports noted that 21Shares was gearing up for launch after updating its S-1 form on November 7.
Some analysts believed the added “delay language” might slow approval, but the November 20 filing confirmed the ETF was ready.
When trading begins, the fund will launch with seed baskets of 20,000 shares priced at $25 each, totaling $500,000 in initial capital.
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