Mastercard sponsors XRP Ledger Hackathon and 21Shares restructures TOXR ETF pricing model with quarterly XRP payments.
Ecosystem ·
Mastercard is sponsoring the XRP Ledger Hackathon, a 36-hour event set for October 24–25 that precedes the Ripple Swell 2026 conference. The sponsorship extends Mastercard's involvement with the Ripple ecosystem, following its March launch of a blockchain partnership program that includes Binance, Gemini, PayPal, and other firms, and its June expansion to support assets including Ripple's RLUSD stablecoin.
21Shares has restructured its XRP ETF (TOXR) by switching its pricing mechanism from CME Group to the FTSE XRP Index, effective August 27. The fund sponsor will now receive compensation quarterly in XRP rather than weekly in fiat. Bitwise's XRP ETF has attracted $575 million in cumulative net inflows and leads the category, while TOXR remains the only XRP ETF with negative cumulative net flows at −$20.06 million despite broader spot XRP ETF inflows.
The timing of these moves coincides with renewed capital flows into XRP financial products, though what drove Mastercard's hackathon involvement and whether the ETF pricing change will stabilize TOXR's performance remain unresolved.