21Shares Files Updated Prospectus to Launch XRP ETF

21Shares, a well-known asset manager, is moving forward with plans to launch its XRP Exchange-Traded Fund (ETF) in the United States. The company has submitted an updated prospectus to the U.S. Securities and Exchange Commission (SEC). This indicates that it is nearing the final stages of the launch process.

21Shares Releases its Management Fee

21Shares plans to list and trade the new XRP ETF on the Cboe BZX Exchange under the ticker symbol “TOXR.” In its latest filing, the issuer has lowered the management fee for its XRP ETF from 0.50% to 0.30%. This new fee makes the ETF one of the cheaper options for investing in cryptocurrency through exchange-traded products

Unlike some other issuers, 21Shares has not announced a temporary fee waiver, which is often used to encourage initial investments. This suggests that 21Shares believes the ETF will be appealing even without special promotions.

An XRP ETF would expand 21Shares’ range of digital asset investment products and could significantly help XRP gain popularity in the U.S. market. No doubt, the ETF would give investors a way to trade on XRP’s price movements without handling the actual tokens.

21Shares XRP ETF Gains SEC Approval

Last month, the asset manager received automatic approval from the U.S.SEC to launch its XRP ETF. The approval comes weeks after 21Shares filed Form 8-A with the SEC. This filing marked the formal start of a 20-day review window regulatory agency, which has now made the ETF automatically effective.

Following the approval news, the Cboe BZX Exchange also confirmed the listing of the 21Shares XRP ETF shares. The 21Shares XRP ETF is poised to track the price of XRP using the CME CF XRP-Dollar Reference Rate as its benchmark

Many experts believed that 21Shares’ proposed fund likely received faster approval following the SEC’s recent guidance after the government shutdown.

XRP ETF News Boosts Market Optimism

Adding to the momentum, WisdomTree recently filed for a Physical CoinDesk 20 Spot ETF. The proposed fund will track 20 major digital assets, including Botcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL), and XRP. Interestingly, XRP makes up about 20% of the portfolio.

Meanwhile, the recent wave of XRP ETF filings has renewed excitement in the market. Analyst Cantonese recently predicted that XRP could reach $8 if it holds key technical levels.

At the same time, ETF expert Nate Geraci expects several XRP ETFs to launch soon. This will possibly boost the market price of the digital asset. At the time of writing, XRP is trading at $2.08, down 0.27% in the last 24 hours, according to CoinMarketCap data.

A report from Bayberry Capital adds that XRP is still undervalued, as the market is underestimating its real-world potential

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