Crypto asset manager 21Shares is making another push for its XRP ETF, filing an updated prospectus on December 8 that brings the proposed 21Shares XRP ETF (TOXR) closer to potential SEC approval. And the timing couldn't be more interesting.

The fund would offer direct exposure to XRP by tracking the CME CF XRP-Dollar Reference Rate (New York variant). This isn't one of those thematic crypto equity funds that invest in blockchain-adjacent companies. We're talking about a product that would actually hold XRP tokens, letting investors get exposure through their regular brokerage accounts instead of wrestling with crypto wallets and exchange accounts.

21Shares, one of the world's largest crypto exchange-traded product issuers, plans to seed the ETF with 20,000 shares at $25 each, raising roughly $500,000 to purchase XRP before trading begins.

Investor Appetite Is Real

Here's where things get interesting. XRP products globally are on an absolute tear right now. They've posted 16 consecutive days of net inflows, pushing total assets under management to $923 million, according to data from The Coin Republic. That's a pretty strong vote of confidence, even as XRP's price itself has been doing more sideways grinding than explosive rallying.

On Monday alone, XRP ETFs pulled in $38 million in net inflows, per Coinglass data. Franklin Templeton's XRP ETF (XRPZ) dominated that action, attracting $31.7 million by itself.

The comparative picture makes XRP's momentum even more striking. Bitcoin ETFs actually shed $60 million the same day. Ethereum ETFs managed $35.49 million in inflows, while Solana ETFs scraped together a modest $1.18 million. Traders are watching closely to see if XRP follows Solana's playbook, where steady incremental inflows eventually preceded a major price surge.

Whether 21Shares gets approval remains to be seen, but the demand side of the equation is clearly showing up.