Canary Capital’s newly launched spot XRP exchange-traded fund (ETF), trading under the ticker XRPC, delivered one of the strongest ETF debuts of the year, and the biggest launch so far for a non-Bitcoin, non-Ethereum crypto fund. The product exceeded expectations within minutes of trading and went on to outperform the opening-day volume of Bitwise’s spot Solana ETF, signaling accelerating demand for regulated altcoin exposure on U.S. markets.
A Record-Breaking First Day for XRPC
XRPC began trading on the Nasdaq with explosive momentum, posting $26 million in trading volume during its first 30 minutes. By the end of the session, total day-one volume reached approximately $58 million, narrowly surpassing the Bitwise Solana ETF (BSOL), which recorded $57 million on its debut earlier this year.
The performance outpaced early projections from ETF analysts who initially expected around $17 million in first-day activity. Instead, XRPC delivered a launch that has already set a benchmark for future altcoin ETF offerings.
🔥 UPDATE: Canary Capital's $XRPC hits $58.6M trading volume on day one, largest day-1 for any 2025 ETF launch, edging out $BSOL's $57M, per Bloomberg’s James Seyffart. pic.twitter.com/ggt3KzJbpq
— Cointelegraph (@Cointelegraph) November 13, 2025
A Regulatory Milestone for XRP in the United States
The XRPC ETF represents the first U.S.-listed spot XRP investment product, giving institutions and retail investors a regulated entry point into one of the world’s largest digital assets. Pricing for the fund is based on the CoinDesk XRP CCIX benchmark, while custody is handled by Gemini Trust Company and BitGo Trust Company, two of the most established digital asset custodians in the industry.
The approval and smooth execution of XRPC’s launch mark a meaningful expansion of the U.S. crypto ETF landscape, which until recently was limited almost exclusively to Bitcoin and Ethereum products.
XRP Price Sees Mild Pressure Despite Strong ETF Demand
Although XRPC’s trading volume impressed, XRP itself experienced slight downward pressure on the day of the launch. The pullback appeared tied to broader market volatility and short-term profit-taking rather than investor sentiment toward the ETF.
Analysts noted that altcoin-focused investment products have seen heightened interest throughout the week, suggesting that the XRPC debut aligns with a larger trend of capital rotating into diversified digital-asset exposure.
A Turning Point for Altcoin ETFs?
The successful launch of XRPC signals growing U.S. appetite for regulated exposure to major altcoins. After Bitcoin and Ethereum ETFs opened the door, XRP has now become the third major crypto asset with a fully compliant spot ETF trading on a national exchange, potentially paving the way for additional products tied to assets like Cardano, Avalanche, Solana’s ecosystem tokens, and others.
For now, Canary Capital’s XRPC stands out as a strong validation of XRP’s demand in institutional settings and a milestone moment for the expansion of crypto ETFs in traditional financial markets.