Fifth XRP ETF Approval Cements Unstoppable Institutional Demand
The institutional takeover of XRP accelerates yet again with a critical new XRP ETF approval. The Cboe exchange has cleared the path for 21Shares’ spot XRP fund (ticker TOXR) to begin trading, marking the fifth such U.S. product in a market that has seen nearly $1 billion flood in with zero days of outflows. This relentless expansion of regulated access is systematically transforming XRP’s liquidity and investor base.
The New Contender: 21Shares’ TOXR Fund Gets the Green Light
The latest XRP ETF approval is for 21Shares’ product, which will track the CME CF XRP-Dollar Reference Rate. The fund features a competitive 0.3% annual fee and will use a multi-custodian model for security. With Ripple Markets providing an initial $226 million in XRP for liquidity, the infrastructure is built for scale. This approval follows Franklin Templeton’s recent launch and underscores the breakneck pace at which asset managers are moving to capture demand for regulated XRP exposure.
The Stunning Demand: Nearing $1B with Zero Outflows
The numbers tell a breathtaking story. Since the first fund launched less than four weeks ago, U.S. spot XRP ETFs have collectively attracted approximately $954 million in net inflows—and have not recorded a single day of outflows. This flawless accumulation streak is unprecedented and highlights a “buy-and-hold” mentality among institutional entrants. Ripple CEO Brad Garlinghouse confirmed XRP is the fastest-growing crypto ETF by assets since Ethereum, a testament to pent-up demand now being unleashed.
A Perfect Storm: Regulatory Products Meet Network Innovation
This institutional frenzy coincides with continued fundamental development. Ripple recently released a significant update to the XRP Ledger aimed at improving network stability and enhancing its DeFi capabilities. This combination—explosive ETF growth and core protocol upgrades—creates a powerful virtuous cycle: the ETFs drive demand and legitimacy, while network improvements strengthen the utility backing the asset.
My Thoughts
This is no longer a trend; it’s a structural market shift. Each new XRP ETF approval acts like another pipe pumping institutional capital directly into the asset. The zero-outflow statistic is the most bullish data point—it means every dollar that enters is treated as a long-term allocation, not a trade. This is building an incredibly solid price floor. As ETF issuers continuously buy XRP to back shares, the available liquid supply shrinks, setting the stage for a violent supply shock when retail FOMO eventually meets institutional scarcity.
