Mastercard has announced it will sponsor the upcoming XRP Ledger Hackathon, drawing fresh attention to the XRP Ledger ecosystem in the lead-up to Ripple Swell 2026. At the same time, 21Shares has updated the pricing benchmark for its XRP ETF known as TOXR, reflecting notable shifts across the regulated XRP investment landscape.
Mastercard’s growing involvement with XRP Ledger
The XRP Ledger Foundation revealed that Mastercard will be the official sponsor of the XRP Ledger Hackathon, scheduled for October 24 and 25 immediately before Ripple Swell 2026. This event, lasting 36 hours, will invite developers to create new payment-focused applications and engage with businesses building on the XRP Ledger network.
The XRP Ledger Foundation is a non-profit organization focused on advancing the development and adoption of the XRP Ledger, an open-source blockchain created for fast, secure, and low-cost payments.
According to the foundation, the XRP Ledger provides a proven foundation for cross-border payments and payment-related innovation. Mastercard, a major global payments technology company, has partnered with several leading crypto firms in 2026. In March, Mastercard expanded its payment network initiatives to include Ripple, Circle, Binance, Gemini, PayPal, and Paxos, integrating digital assets and blockchain services more deeply into traditional financial infrastructure.
Mastercard’s collaboration widened in June, incorporating additional tokens in its network, including Ripple’s RLUSD stablecoin and Circle’s USDC, signaling increased activity in blockchain-enabled payment systems.
Mini dictionary: Ripple Swell, the flagship annual conference organized by Ripple, focuses on topics including payments, digital assets, and the future of financial technology, drawing banking and fintech professionals from around the world.
Changes in 21Shares XRP ETF structure
Meanwhile, 21Shares submitted a filing with the Securities and Exchange Commission to update its spot XRP ETF (TOXR). The ETF’s pricing source will shift from CME Group pricing to the FTSE XRP Index, starting August 27. This change will adjust how TOXR tracks XRP’s value, reflecting a move toward different industry benchmarks.
Spot XRP ETFs have seen robust inflows throughout the week, with daily capital moving into these funds surpassing $13.8 million on Monday, reaching $24 million on Tuesday, and exceeding $28 million on Wednesday.
Additionally, 21Shares has revised the sponsor fee payment schedule. Instead of weekly payments, the sponsor will now receive fees every three months, settled directly in XRP rather than cash. This switch streamlines fund operations and further integrates native digital currency into the ETF’s processes.
TOXR is currently the only XRP ETF showing negative cumulative net flows, recording $20.06 million in total outflows. In contrast, the Bitwise XRP ETF leads the market with approximately $575 million in cumulative net inflows. Data indicates investor demand remains concentrated in the largest funds.
| Fund | Cumulative Net Flows | Latest Daily Inflow |
|---|---|---|
| Bitwise XRP ETF | $575 million | Over $28 million |
| 21Shares TOXR | -$20.06 million | Over $28 million |
21Shares is an asset management firm specializing in exchange-traded products tracking digital assets, including single-asset crypto ETFs and broader crypto index funds.
Spot XRP ETF activity intensifies
Spot XRP ETFs across the United States have attracted significant inflows throughout the week. On Monday, daily inflow volumes reached $13.82 million, increasing to about $24 million on Tuesday, and climbing above $28 million on Wednesday.
TOXR has switched to quarterly sponsor payments in XRP, moving away from weekly schedules previously settled in cash.
These developments coincide with Mastercard’s increased support for the XRP Ledger, indicating payment industry interest in blockchain payment solutions and growing demand for regulated XRP investment products.
