Crypto Currency
21Shares’ XRP ETF Moves Closer to Launch With Updated Filing and Lower Fees
21Shares has inched another step closer to launching its highly anticipated 21Shares XRP ETF (TOXR) after submitting an updated prospectus. The latest amendment arrives just as investor appetite for crypto-focused exchange-traded products is heating up, setting the stage for a potentially big week for XRP market watchers.
Summary
- 21Shares filed an updated prospectus for the 21Shares XRP ETF (TOXR).
- Management fees have been cut from 0.50% to 0.30%.
- The ETF is seeded with 20,000 shares priced at $25 each.
- Investors are eyeing parallels to Solana’s previous rally as anticipation builds.
A Step Closer: What’s New in the Filing?
The newest S-1 amendment marks the fifth update to 21Shares’ filing, bringing the TOXR ETF one step nearer to a potential launch this week. The issuer also opted to reduce its management fee from 0.50% to 0.30%—a welcome tweak in an increasingly competitive ETF landscape. Whether 21Shares will waive fees altogether remains unknown for now, but the rate cut alone signals an attempt to stay ahead in the race.
How We Got Here
The XRP ETF technically became auto-effective last month, but it still needs a CERT filing before it can officially begin trading. The idea behind the product is simple: provide investors with a regulated, traditional-finance route to gain exposure to XRP without dealing with crypto wallets or self-custody complexities.
Instead, the ETF will track the CME CF XRP-Dollar Reference Rate, allowing anyone with a standard brokerage account to access spot XRP performance—essentially the convenience of TradFi with the upside of crypto.
Three Custodians, One ETF
Security and regulatory compliance are front and center. For custody, 21Shares has onboarded:
- Coinbase Custody
- Anchorage Digital Bank
- BitGo Trust
Meanwhile, BNY Mellon will act as the cash custodian, administrator, and transfer agent, and Foreside Global Services will serve as the marketing agent.
According to the December 8 filing, the ETF will hold actual XRP, giving investors direct exposure rather than relying on derivatives or thematic crypto equities.
The ETF Seed: 20,000 Shares
21Shares is seeding TOXR with 20,000 shares at $25 each, totaling roughly $500,000. It’s a modest but strategic start—enough to kick off the fund while signaling confidence without overshooting demand.
For those considering an early position, this could be an interesting entry point, especially if XRP sees momentum similar to Solana’s recent surge in ETF inflows.
XRP ETFs Continue Their Global Streak
XRP ETFs worldwide have been on a roll with 16 consecutive days of net inflows, bringing total assets under management to $923 million.
On Monday alone:
- XRP ETFs pulled in $38 million in net inflows
- Franklin Templeton’s XRPZ accounted for $31.7 million of that
- Bitcoin ETFs saw $60 million in net outflows
- Ethereum ETFs gained $35.49 million
- Solana ETFs lagged with $1.18 million in inflows
Momentum is clearly building behind XRP-focused products, and the launch of TOXR could amplify that trend even further.
Conclusion
21Shares’ updated filing for the XRP ETF is more than a regulatory formality—it’s a strong signal that the launch window is opening. With reduced fees, direct XRP exposure, and heavyweight custodians behind it, TOXR could become a major gateway for traditional investors looking to enter the XRP market.
As crypto ETFs continue gaining traction, XRP’s inclusion in the growing ecosystem underscores the asset’s rising mainstream relevance.
Crypto
Coinbase’s x402 Launches ‘App Store’ for AI Agents
Coinbase is pushing deeper into the intersection of AI and crypto with the launch of a new marketplace designed specifically for autonomous agents.
Introducing Agentic.market
The new platform, called Agentic.market, acts like an app store for AI agents, allowing them to discover, evaluate, and use services without needing traditional API integrations.
Built on Coinbase’s x402 payments protocol, the marketplace aims to simplify how AI agents interact with online services and make payments.
What the x402 Protocol Does
The x402 protocol enables AI agents to:
- Make payments using stablecoins
- Access services programmatically
- Operate independently without human intervention
It is named after the HTTP “402 Payment Required” status code, reflecting its focus on enabling native internet payments.
A Marketplace for Autonomous Agents
Agentic.market provides two key layers:
- A web interface for humans to browse services
- A programmable layer for AI agents to integrate tools automatically
AI agents can:
- Search and compare services
- Access “skills” (predefined instructions for using tools)
- Execute transactions using built-in wallets
This allows agents to not only consume services, but also potentially offer services themselves.
Solving a Fragmentation Problem
According to Coinbase, one of the biggest challenges in the AI agent ecosystem has been fragmentation.
Until now, developers relied on:
- Word-of-mouth
- Disconnected platforms
- Manual integrations
Agentic.market aims to centralize this ecosystem, making it easier for agents to operate efficiently.
Growing Adoption of AI Payments
The x402 ecosystem is already seeing traction:
- Hundreds of thousands of AI agents active
- Hundreds of millions in transaction volume
This signals growing demand for machine-to-machine commerce powered by crypto.
Backed by Major Tech and Finance Players
The protocol has attracted support from major companies, including:
- Microsoft
- Amazon Web Services
- Visa
- Mastercard
- Stripe
- Circle
These companies are backing the development of the x402 Foundation, which will help govern the protocol.
The Bigger Vision: AI-Native Commerce
Industry leaders believe AI agents could soon dominate online transactions.
Coinbase CEO Brian Armstrong has predicted that AI agents may soon outnumber humans in online commerce, while Circle’s leadership expects billions of agents to transact onchain within a few years.
A Glimpse Into the Future
The launch of Agentic.market highlights a major shift:
- From human-driven apps → to agent-driven ecosystems
- From manual payments → to autonomous transactions
If adoption continues, platforms like this could become foundational infrastructure for the next phase of the internet.
Crypto Currency
Bitcoin Jumps Above $77K as Oil Drops After Strait of Hormuz Reopens
Bitcoin surged past $77,000 on Friday, while oil prices fell sharply, after Iran confirmed that the Strait of Hormuz will remain open during the ongoing ceasefire.
The announcement triggered a swift shift in global markets, signaling improving investor sentiment as geopolitical tensions eased.
Bitcoin Rallies on Easing Tensions
Following the news, Bitcoin climbed more than 3.7% in 24 hours, extending its weekly gains to around 5%.
The rally reflects a broader return of risk appetite among investors, who had previously pulled back amid uncertainty tied to the US, Israel, and Iran conflict.
Market watchers noted that investors who exited positions during the March volatility are now re-entering as conditions stabilize.
Oil Prices Drop Sharply
At the same time, oil markets reacted in the opposite direction.
Brent crude futures fell roughly 10%, dropping to around $85 per barrel after Iran’s foreign minister confirmed that commercial shipping would not be disrupted during the ceasefire period.
The Strait of Hormuz is a critical global energy route, and any threat to its operation typically drives oil prices higher. Its reopening helped ease supply concerns almost immediately.
Ceasefire Brings Temporary Relief
Iran’s foreign minister stated that the passage would remain fully open for commercial vessels throughout the ceasefire period.
US President Donald Trump also confirmed the development, reinforcing confidence in the short-term stability of the region.
However, the ceasefire is set to expire on April 22, meaning uncertainty still lingers over what could happen next.
Markets Show Signs of Recovery
The easing of tensions has boosted broader markets as well.
According to market commentary, the S&P 500 has added roughly $7 trillion in value over the past three weeks, reflecting renewed investor confidence across asset classes.
This improving sentiment is also supporting crypto markets, which often react strongly to macroeconomic and geopolitical developments.
Talks of Broader Deal Add Optimism
Additional optimism came from reports that US officials are considering a wider agreement with Iran.
The proposal could involve releasing up to $20 billion in frozen Iranian assets in exchange for Tehran scaling back its enriched uranium stockpile.
While discussions are ongoing, such a deal could further reduce geopolitical risks if finalized.
Uncertainty Still Remains
Despite the positive developments, risks have not fully disappeared.
The US naval presence in the region remains active, and officials have indicated that certain measures will stay in place until a broader agreement is finalized.
With the ceasefire deadline approaching, markets may continue to see volatility depending on how negotiations unfold.
Blockchain
Ramp Network Launches Multichain Wallet to Simplify Self-Custody
Fintech firm Ramp Network has introduced a new multichain self-custodial wallet aimed at reducing one of crypto’s biggest usability challenges, the need to rely on multiple third-party services for basic transactions.
The company says the wallet allows users to buy, sell, swap, and cash out digital assets within a single app, streamlining the overall experience.
All-in-One Crypto Experience
Unlike many wallets that depend on external providers, Ramp’s new product integrates its own on-ramp, off-ramp, and cross-chain infrastructure directly into the app.
This means users can complete key actions like trading or withdrawing funds without being redirected to other platforms.
Ramp says the goal is to simplify self-custody while still allowing users to retain full control over their assets.
Multichain Support at Launch
The wallet launches with support for Ether across eight networks, including Ethereum, Arbitrum, Base, Linea, MegaETH, Optimism, Polygon zkEVM, and zkSync Era.
Ramp plans to expand support to additional networks such as Bitcoin, Solana, Binance Smart Chain, Polygon, Apechain, Avalanche, Celo, and Gnosis in future updates.
To facilitate transactions, the wallet uses USDC on the Base network as a core balance for payments and transfers.
Focus on Security and User Control
Despite offering an integrated experience, Ramp emphasized that the wallet remains fully self-custodial.
Users retain control of their private keys, with security features including passkeys and optional key export functionality.
The company said this approach aims to make non-custodial wallets easier to use without compromising ownership of funds.
Not Available in the EU Yet
The wallet will be available globally, except in the European Union.
Ramp Network is already registered as a Crypto Asset Service Provider under the EU’s MiCA framework, but additional regulatory approvals are required before launching the wallet in the region.
According to CEO Przemek Kowalczyk, those steps are expected to be completed in the coming months.
Competing in a Crowded Wallet Market
Ramp’s entry adds to a growing list of wallets offering integrated features, including MetaMask, Phantom, Best Wallet, and Exodus, which already support in-app swaps and asset purchases.
However, Ramp is positioning its product as more streamlined by reducing the number of intermediaries involved in each transaction.
Simplifying a Fragmented Experience
Kowalczyk said the company built its own infrastructure to eliminate friction points that typically occur when users switch between services.
By combining payments, trading, and cash-out features into a single system, Ramp aims to make the crypto experience more consistent and user-friendly while maintaining the core principle of self-custody.
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