Canary Capital's spot XRP ETF (XRPC) has made a splash in the investment world, achieving a record-breaking debut that outshines all other ETF launches in 2025. The ETF, which provides direct exposure to XRP, saw approximately $250 million in inflows on its first day of trading, marking the largest crypto ETF debut of the year.
The impressive launch has drawn attention from ETF analysts and industry experts. Nate Geraci, co-founder of the ETF Institute and President of the ETF Store, highlighted the significant milestone on X, noting that the Canary XRP ETF also posted the highest day-one trading volume out of over 900 ETF launches this year. Bloomberg ETF analyst Eric Balchunas reported $58 million in day-one volume.
XRPC's performance far exceeded initial expectations and surpassed the previous record held by Bitwise's Solana ETF (BSOL), which had a strong debut earlier in the year. The fund's early success signals strong investor confidence in XRP and a growing appetite for regulated investment vehicles that provide access to alternative digital assets.
The launch of the XRP ETF is particularly noteworthy given the regulatory landscape surrounding Ripple Labs and XRP. After a protracted legal battle with the Securities and Exchange Commission (SEC), a settlement was reached, paving the way for the first XRP public spot investment product registered under the Securities Act of 1933. Some analysts view the ETF's approval as a sign of a shifting regulatory environment towards digital assets.
Canary Capital has emphasized the XRP Ledger's potential for global payments, highlighting its interoperability and suitability for real-world settlement. The company believes the XRP Ledger represents a leading framework for global payments, enabling low-cost, near-instant transfers with growing adoption across enterprise and fintech ecosystems.
While the ETF's debut was met with enthusiasm, XRP's price experienced a slight pullback, dropping 2.7% to $2.28. This price action is often attributed to a "sell-the-news" phenomenon, where investors take profits after a highly anticipated event. Despite the dip, analysts remain optimistic about XRP's long-term prospects, with some projecting a potential rally towards $5 by the end of 2025, driven by the ETF launch and renewed liquidity following the end of the U.S. government shutdown. JPMorgan analysts estimate that an XRP ETF could attract up to $8 billion in capital, mirroring the inflows seen in Bitcoin and Ethereum funds.
The successful launch of the Canary Capital XRP ETF marks a significant milestone for XRP and the broader cryptocurrency market. It provides investors with a new avenue for exposure to XRP and signals growing institutional interest in digital assets beyond Bitcoin and Ethereum. The ETF's record-breaking debut suggests a bright future for XRP and further adoption of digital assets in the financial system.
