Canary Launches First U.S. Spot XRP ETF
Canary Capital launched the first U.S. spot XRP ETF, called XRPC, on November 13, 2025. The ETF tracks CoinDesk’s CCIX New York XRP rate and holds real XRP tokens through custodians Gemini and BitGo. It is listed on the CBOE exchange under the ticker XRPC.
Within 30 minutes, XRPC reached $26 million in trading volume. This surpassed early predictions by Bloomberg’s Eric Balchunas, who had estimated $17 million in volume at launch. By later in the day, volume rose above $46 million.
Strong Trading Volume Sets New ETF Benchmarks
XRPC’s early volume positions it to challenge the $57 million Day One record set by $BSOL earlier in 2025. Analyst James Seyffart called the launch “almost guaranteed” to be among the top ETF debuts this year.
The ETF’s strong start is notable in a crowded market and shows growing demand for regulated XRP exposure.
Upcoming XRP ETF Launches and Market Impact
- Seven spot XRP ETFs are scheduled to launch within 12 days on exchanges like Nasdaq, CBOE, and NYSE.
- Companies such as Bitwise, 21Shares, and Grayscale are preparing their own XRP ETF filings.
- This wave resembles earlier Bitcoin ETF rollouts, signaling increased institutional interest.
Industry watchers expect market makers and asset managers to closely follow liquidity and trading conditions. The XRP ETF era has begun, reflecting wider acceptance in crypto investment.
