XRP ETF Records the Strongest Debut of the Year With $58 Million in First-Day Trading

Canary Capital’s New XRP ETF Makes the Strongest Debut of the Year

Canary Capital’s new spot XRP exchange-traded fund (ETF), named XRPC, made a very strong first-day debut with $58 million in trading volume — the highest opening for any ETF launched this year. This happened even though the crypto market was experiencing losses on the same day.

The ETF began trading only a few days after filing its pre-launch registration with the U.S. SEC. As soon as it launched, investor interest was much higher than expected.

Bloomberg ETF analyst Eric Balchunas highlighted the impressive performance, noting that the XRPC ETF slightly surpassed Bitwise’s Solana staking ETF, which launched last month with $57 million in its first day. Balchunas originally predicted only around $17 million in early volume for XRPC, but the fund exceeded that within just 30 minutes.

By the end of the day, Canary’s XRP ETF closed at $24.55, down 7.8%, showing a volatile first session.

The strong debut came despite a red day across the broader crypto market. Global crypto market capitalization fell 3.5% to $3.43 trillion, according to CoinGecko. Bitcoin dropped 3.4%, Ether fell 6.7%, and Solana declined 5% to $145 as it pulled back from previous gains.

Experts say the strong opening shows that investors are looking for crypto exposure beyond just Bitcoin and Ether. According to Min Jung, a senior analyst at the trading firm Presto:

• XRP has one of the most loyal and active retail communities, which often drives heavy trading when new products launch.
• XRP is also widely recognized among casual investors, helping boost participation from day one.
• On the institutional side, demand has grown because of Ripple’s recent regulatory wins and increasing confidence that XRP is not considered a security.

Jung added that many professional investors, who previously avoided XRP due to regulatory uncertainty, now feel more comfortable accessing it through a regulated ETF. This shift likely contributed to the impressive debut.

However, Jung noted that not all the trading came from regular investor demand. Some of the volume came from liquidity providers and traders taking advantage of short-lived price gaps between the ETF price and the actual XRP spot price.