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TOXR on CBOE

21Shares XRP ETF

21Shares XRP ETF is an American commodity contracts brokers and dealers company, listed on CBOE (TOXR).1 It is headquartered in New York, New York.1

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Last updated Oct 21, 2026.

Overview

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  • TickerTOXR on CBOE1
  • IndustryCommodity Contracts Brokers & Dealers1
  • HeadquartersNew York, New York1
  • Incorporated inDE2
  • Business address477 Madison Avenue, 6Th Floor, New York, Ny 100222
  • Filer category, Emerging growth company2

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Inc., (the “Prime Broker”), or any other prime brokers with whom the Trust contracts.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Every line of the income statement as filed: the last 1 fiscal year, latest first.4

Period ending2025-12-31
Sponsor Fee$5.9M
Total expenses$5.9M
Net investment loss-$5.9M
Net realized gain on investment in XRP sold to pay Sponsor Fee$765.1K
Net change in unrealized appreciation on Sponsor Fee payable$1.2K
Net change in unrealized depreciation on investment in XRP-$30.9M
Net realized and change in unrealized loss-$30.1M
Net decrease in net assets resulting from operations-$36.0M

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Former names

  • 21Shares Core XRP TrustNov 1, 2024 to Nov 1, 20242

Timeline

  1. Aug 26, 20268-K Entered a material agreement; Bylaws or fiscal year changed7
  2. Jul 7, 20268-K Ended a material agreement8

Filings

31 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 2 major events, 25 other. The latest 20:

  1. Aug 27, 2026424B3 PROSPECTUS SUPPLEMENT EDGAR
  2. Aug 26, 2026424B3 PROSPECTUS SUPPLEMENT EDGAR
  3. Aug 26, 20268-K CURRENT REPORT EDGAR
  4. Aug 11, 2026424B3 PROSPECTUS SUPPLEMENT EDGAR
  5. Aug 11, 202610-Q QUARTERLY REPORT EDGAR
  6. Jul 7, 2026424B3 PROSPECTUS SUPPLEMENT EDGAR
  7. Jul 7, 20268-K CURRENT REPORT EDGAR
  8. May 14, 2026424B3 PROSPECTUS SUPPLEMENT EDGAR
  9. May 13, 202610-Q QUARTERLY REPORT EDGAR
  10. Apr 1, 2026424I EDGAR
  11. Mar 31, 2026424B3 PROSPECTUS SUPPLEMENT EDGAR
  12. Mar 31, 202610-K ANNUAL REPORT EDGAR
  13. Jan 26, 2026424B3 PROSPECTUS SUPPLEMENT EDGAR
  14. Jan 26, 202610-Q QUARTERLY REPORT EDGAR
  15. Dec 10, 2025EFFECT EDGAR
  16. Dec 10, 2025CERT CBOE BZX CERTIFICATION EDGAR
  17. Dec 10, 2025424B3 PROSPECTUS EDGAR
  18. Dec 9, 2025CORRESP EDGAR
  19. Dec 8, 2025CORRESP EDGAR
  20. Dec 8, 2025S-1/A AMENDMENT NO. 5 TO FORM S-1 EDGAR

The 31 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Goldman Sachs Group Inc806,126$8.2M0.0%New
Jane Street Group, LLC64,529$656.9K0.0%−36,118
Teucrium Investment Advisors, LLC13,100$133.4K0.1%New
Blue Trust, Inc.8,100$82.5K0.0%No change
Flow Traders U.s. LLC34,088$3470.0%−50,092

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How 21Shares XRP ETF is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAR21Shares XRP ETF1
  • CIK0002028835
  • Employer ID (EIN)33-64791393
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)6221 Commodity Contracts Brokers & Dealers1
  • SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
  • Business address477 Madison Avenue, 6Th Floor, New York, NY 100221
  • Phone646-370-60161
  • Shares outstanding11,120,000 as of Aug 7, 20266
  • Public float$0 as of Jun 30, 20254
  • AuditorCOHEN & COMPANY, LTD., Towson, Maryland PCAOB ID 925; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceNov 1, 20241
  • Filings31 in all: 424B3 (8), S-1/A (5), CORRESP (4), 10-Q (3), UPLOAD (3), 8-K (2), 10-K (1), 424I (1)1
    All 12 form types

    8-A12B (1), CERT (1), EFFECT (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 11, 2026
    Latest 8-K (8-K) Aug 26, 2026

Securities registered for trading

ClassSymbolExchange
Shares of Beneficial Interests of 21Shares XRP ETFTOXRCboe BZX Exchange, Inc.

From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks 21Shares XRP ETF names in Item 1A of its 10-K filed Mar 31, 2026: 77 risks under these headings, as written.3

  • Risks Associated with XRP and the XRP Ledger
  • The value of the Shares relates directly to the price of XRP, which may be highly volatile and subject to fluctuations due to a number of factors.
  • XRP is a relatively new technological innovation with a limited operating history.
  • The Trust will not directly or indirectly participate in any staking program, and accordingly investors will not receive any staking rewards or other income.
  • The fixed supply of XRP may negatively impact the operation of the XRP Ledger.
  • The significant holdings of XRP by Ripple Labs and other early stakeholders could have an adverse effect on the market price of XRP.
  • A determination that XRP or any other digital asset is offered or sold as a “security” may adversely affect the price of XRP and the value of the Shares, and result in potentially extraordinary, nonrecurring expenses to, or termination of, the Trust.
  • The trading prices of many digital assets, including XRP, have experienced extreme volatility in recent periods and may continue to do so. Extreme volatility in the future, including further decline in the trading prices of XRP, could have a material adverse effect on the value of the Shares and the Shares could lose all or substantially all of their value.
  • Spot markets on which XRP trades are relatively new and largely unregulated.
  • Authorized Participants may act in the same or similar capacity for other competing products.
  • Spot markets may be exposed to security breaches.
  • Spot markets may be exposed to fraud and market manipulation.
The other 66 risks
  • Spot markets may be exposed to wash trading.
  • Spot markets may be exposed to front-running.
  • The market value of XRP is subject to momentum pricing.
  • A decline in the adoption of XRP could negatively impact the Trust.
  • The failure or poor performance of, or perceptions of risk or negative publicity around one or more of the protocols based on the XRP Ledger or that make use of XRP may adversely affect demand for XRP, the price of XRP, or the price of the Shares.
  • Irrevocable nature of blockchain-recorded transactions.
  • The loss or destruction of a private key required to access XRP may be irreversible.
  • Loss of a critical banking relationship for, or the failure of a bank used by, the Trust or the Prime Broker could adversely impact the Trust’s ability to create or redeem Baskets, or could cause losses to the Trust.
  • If any of the Custodial Services Agreements or the Prime Broker Agreement are terminated or the XRP Custodians or the Prime Broker fail to provide services as required, the Trustee may need to find and appoint a replacement custodian or prime broker, which could pose a challenge to the safekeeping of the Trust’s XRP, and the Trust’s ability to continue to operate may be adversely affected.
  • The XRP Custodians and the Prime Broker may act in the same or similar capacity for other competing products.
  • The Prime Broker routes orders through Connected Trading Venues in connection with trading services under the Prime Broker Agreement. The loss or failure of any such Connected Trading Venues may adversely affect the Prime Broker’s business and cause losses for the Trust.
  • A disruption of the Internet may affect XRP operations, which may adversely affect the XRP industry and an investment in the Trust.
  • The XRP Ledger’s governance structure may negatively affect its ability to grow and respond to challenges.
  • Potential changes to the XRP network’s protocols and software could, if accepted and authorized by the XRP network community, adversely affect an investment in the Trust.
  • The open-source structure of the XRP network protocol means that the core developers and other contributors are generally not directly compensated for their contributions in maintaining and developing the XRP network protocol. A failure to properly monitor and upgrade the XRP network protocol could damage the XRP network and an investment in the Trust.
  • Anonymity and illicit financing risk.
  • The actual or perceived use of XRP and other digital assets in illicit transactions may adversely affect the XRP industry and an investment in the Trust.
  • The inability to recognize the economic benefit of a “fork” or an “airdrop” could adversely impact an investment in the Trust.
  • Network Forks.
  • Any name change and any associated rebranding initiative of XRP may not be favorably received by the digital asset community, which could negatively impact the value of XRP and the value of the shares.
  • XRP is subject to cybersecurity risks, which could adversely affect an investment in the Trust or the ability of the Trust to operate.
  • A temporary or permanent “fork” or “clone” of the XRP Ledger could adversely affect the value of the Shares.
  • Cancer nodes.
  • Double-spending risks.
  • Flaws in source code.
  • The XRP Ledger faces scaling challenges and efforts to increase the volume of transactions may not be successful.
  • Smart contracts are new and their ongoing development and operation may result in problems or be subject to errors or hacks, which could reduce the demand for XRP or cause a wider loss of confidence in the XRP Ledger, either of which could have an adverse impact on the value of XRP.
  • New competing digital assets may result in a reduction in demand for XRP, which could have a negative impact on the price of XRP and may have a negative impact on the performance of the Trust.
  • Competition from other consortia or private blockchains could have a negative impact on the price of XRP and adversely affect an investment in the Shares.
  • Competition from central bank digital currencies (“CBDCs”) could adversely affect the value of XRP and other digital assets.
  • Prices of XRP may be affected due to stablecoins, the activities of stablecoin issuers and their regulatory treatment.
  • Validators may cease participating in validating activities because they are provided no direct financial incentive to participate or because certain jurisdictions may limit or otherwise regulate validating activities, which could negatively impact the price of XRP and the value of the Shares.
  • Electricity usage.
  • Validators may cease to record transactions as a result of low transaction fees, which may adversely affect the usage of the XRP Ledger.
  • Large-Scale Sales or Distributions.
  • Congestion or delay in the XRP Ledger may delay purchases or sales of XRP by the Trust.
  • Risks Associated with Investing in the Trust
  • Investment Related Risks.
  • The NAV or the Principal Market NAV may not always correspond to the market price of XRP.
  • Deviations between the Trust’s NAV and NAV per Share versus the Trust’s Principal Market NAV and Principal Market NAV per Share may occur.
  • Owning Shares is different from directly owning XRP.
  • Pricing Benchmark tracking risk.
  • Liquidity risk.
  • Counterparty risk.
  • The value of the Shares may be influenced by a variety of factors unrelated to the value of XRP.
  • The Administrator is solely responsible for determining the value of the Trust’s XRP, the Trust’s NAV and the Trust’s Principal Market NAV. The value of the Shares may experience an adverse effect in the event of any errors, discontinuance or changes in such valuation calculations.
  • XRP Counterparties’ buying and selling activity associated with the creation and redemption of Baskets may adversely affect an investment in the Shares.
  • The inability of XRP Counterparties to hedge their XRP exposure may adversely affect the liquidity of Shares and the value of an investment in the Shares.
  • Arbitrage transactions intended to keep the price of Shares closely linked to the price of XRP may be problematic if the process for the creation and redemption of Baskets encounters difficulties, which may adversely affect an investment in the Shares.
  • The use of cash creations and redemptions, as opposed to in-kind creations and redemptions, may adversely affect the arbitrage transactions by Authorized Participants intended to keep the price of the Shares closely linked to the price of XRP and, as a result, the price of the Shares may fall or otherwise diverge from NAV.
  • If the process of creation and redemption of Baskets encounters any unanticipated difficulties, the possibility for arbitrage transactions by Authorized Participants intended to keep the price of the Shares closely linked to the price of XRP may not exist and, as a result, the price of the Shares may fall or otherwise diverge from NAV.
  • Security threats and cyberattacks could result in the halting of Trust operations and a loss of Trust assets or damage to the reputation of the Trust, each of which could result in a reduction in the price of the Shares.
  • The Trust’s XRP Custodians could become insolvent.
  • The Trust is subject to risks due to its concentration of investments in a single asset.
  • The lack of active trading markets for the Shares may result in losses on Shareholders’ investments at the time of disposition of Shares.
  • Several factors may affect the Trust’s ability to achieve its investment objective on a consistent basis.
  • The amount of XRP represented by the Shares is expected to decline over time.
  • The development and commercialization of the Trust is subject to competitive pressures.
  • A loss of confidence in, or breach of, an XRP Custodian may adversely affect the Trust and the value of an investment in the Shares.
  • The Sponsor may need to find and appoint a replacement custodian or prime broker quickly, which could pose a challenge to the safekeeping of the Trust’s XRP.
  • Lack of recourse.
  • The value of the Shares will be adversely affected if the Trust is required to indemnify the Sponsor, the Trustee, the Administrator, the Transfer Agent, the XRP Custodians or the Prime Broker.
  • Intellectual property rights claims may adversely affect the Trust and the value of the Shares.
  • Amendment of Trust Agreement Without Shareholder Consent.
  • Potential conflicts of interest may arise among the Sponsor or its affiliates and the Trust. The Sponsor and its affiliates have no fiduciary duties to the Trust and its shareholders other than as provided in the Trust Agreement, which may permit them to favor their own interests to the detriment of the Trust and its shareholders.
  • Unforeseeable risks.
  • Risks Associated with the Pricing Benchmark and Pricing Benchmark Pricing
  • The Pricing Benchmark has a limited history.

Legal proceedings

From time to time, the Trust may be a party to certain legal proceedings in the ordinary course of business. As of December 31, 2025, the Trust was not subject to any material legal proceedings, nor, to our knowledge, are any material legal proceedings threatened against the Trust.

The opening of Item 3, Legal Proceedings.3

Sources

The numbers on this page point here. Each one links to the record it came from.

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