๐ฅ Today: 21Shares launches XRP ETF (TOXR) to enhance regulated exposure to global payments and tokenization with growing adoption!
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๐ข New launch:
โ 21Shares, the leading European issuer, announced the launch of the 21Shares XRP ETF (TOXR) on the CBOE exchange, providing direct access to XRP without managing wallets
โ TOXR tracks the price of XRP via the CME CF XRP-Dollar index, with a management fee of 0.30% and an initial creation of 20,000 shares at $25 per share
โ Joins other ETFs like Grayscale and Bitwise, with total assets of XRP ETFs approaching $1 billion and inflows exceeding $900 million
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๐ก Analysis:
โ The launch comes after CBOE approval and SEC amendments, with multiple custodians (Coinbase, Anchorage, BitGo) for security, and Flow Traders as the primary market maker
โ The growth of XRP in cross-border payments via RippleNet reflects banks using XRP to provide instant liquidity, amid expectations of increased tokenization of real assets
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โก Why does it matter to you?
โ Opens the doors for safe institutional investment in XRP, enhancing liquidity and trust in DeFi and digital payments, especially with projected crypto revenues of $395 million in the UAE
โ A critical step towards integrating crypto into traditional markets, which could push the price of XRP towards $2.20 with increased demand
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