Anticipation around an XRP exchange-traded fund (ETF) continues to build as 21shares US revealed on December 2 that it is still awaiting a declaration of effectiveness from the U.S. Securities and Exchange Commission (SEC) for its planned spot XRP ETF. The firm's statement came amid rising speculation about an imminent launch.
Official Statement: Awaiting SEC Declaration
In a post on X (formerly Twitter), 21shares US wrote: “We are waiting for the SEC to declare us effective. Please wait for the announcement from our official socials.” The company responded to rumors that its product, expected under the ticker TOXR, would debut early this week, emphasizing that no official announcement had been made. Some users noted increased search visibility for 21shares products on Vanguard’s platform, interpreting it as a sign of readiness, but the firm dismissed such speculative timelines.
The SEC’s cautious approach to XRP-related products stands in contrast to the relatively faster approval of Bitcoin and Ethereum spot ETFs earlier this year. However, the regulator has already greenlit three XRP spot ETFs in recent weeks, setting a precedent that may eventually benefit 21shares.
Standard Chartered Appointed as Custodian
On November 25, 21shares announced the appointment of Standard Chartered as its digital asset custodian. The bank will provide secure, compliant digital asset storage through its Luxembourg-based custody service, which is registered with the Commission de Surveillance du Secteur Financier (CSSF). The partnership expands 21shares’ institutional infrastructure, offering professional-grade security and regulatory compliance that sophisticated investors require.
Standard Chartered has been steadily building its crypto custody capabilities, positioning itself as a bridge between traditional finance and digital assets. The move is seen as a confidence booster for 21shares’ ETF, as a reputable custodian often accelerates institutional adoption.
Competitive Landscape Heats Up
The U.S. market has already witnessed the launch of multiple spot XRP ETFs. Canary’s XRPC debuted on Nasdaq, Franklin Templeton’s XRPZ began trading on NYSE Arca, and Grayscale’s XRP Trust (GXRP) also entered the market in late November. Collectively, these products have attracted significant investor interest, with total assets under management (AUM) reaching billions of dollars.
Proponents argue that a broader selection of regulated XRP ETFs enhances liquidity, expands institutional access, and improves price discovery for the asset. However, for 21shares, the delay in approval could mean losing first-mover advantage, especially as early entrants build market share.
FAQs: Key Questions About 21shares’ XRP ETF
- Why is 21shares’ spot XRP ETF still pending approval?
21shares confirmed it is awaiting the SEC’s effectiveness declaration, emphasizing that no official launch date has been announced. The SEC’s thorough review process may contribute to the delay. - What signals suggest growing readiness for the 21shares XRP ETF?
Increased search visibility for 21shares products on platforms like Vanguard and rising social media chatter have fueled speculation, though the firm has not validated any specific timing. - How does Standard Chartered’s custodial role impact investor confidence?
Standard Chartered’s regulated custody service enhances institutional-grade security and compliance, strengthening 21shares’ infrastructure and making the ETF more attractive to professional investors. - Why is competition intensifying in the U.S. spot XRP ETF market?
Recent launches from Canary, Franklin, and Grayscale have expanded the regulated XRP ETF landscape, creating a crowded field in which 21shares’ TOXR product remains a key focus among institutional players.
As of press time, 21shares has not provided a specific timeline for regulatory approval. The crypto community will continue to monitor the SEC’s next steps, with expectations that an XRP ETF wave could reshape the digital asset investment landscape in 2025.