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21Shares XRP ETP is an exchange-traded product (ETP) issued by 21Shares AG, a Swiss-based company specializing in crypto-linked financial instruments. This non-interest bearing, open-ended debt security seeks to track the performance of XRP, a digital asset designed for fast, low-cost cross-border payments on the decentralized XRP Ledger. Backed by physical XRP collateral held in segregated accounts, it offers investors senior secured exposure as first lien creditors against allocated pools of the cryptocurrency, denominated in USD with an ISIN of CH0454664043. Notable features include a continuous creation and redemption mechanism for authorized participants, an annual put option, and no scheduled maturity date, allowing flexible issuance of additional units without dilution. The product carries a base annual fee of 2.5% and applies to subscription or redemption fees for participants. In the financial markets, 21Shares XRP ETP plays a key role in providing regulated access to cryptocurrency volatility and innovation, bridging traditional finance with digital assets while exposing holders to XRP's utility in global payments, tokenized assets, and ledger functions for institutions.