XRP ETF Launches with Record 58M Trading Volume

Canary Capital's newly launched spot XRP exchange-traded fund achieved a record-breaking debut on November 13, 2025, drawing 58 million in trading volume on its first day and surpassing all other ETF launches in the United States that year. The XRPC ETF, listed on Nasdaq, provided investors with direct exposure to XRP, the cryptocurrency developed by Ripple for cross-border payments, marking the first such regulated product in the country.

The fund's performance quickly outpaced competitors, including Bitwise's Solana ETF, which recorded 57 million in volume on its own debut earlier in the year. Bloomberg ETF analyst Eric Balchunas noted the achievement in a post on X, stating that XRPC's volume placed it ahead of more than 900 other ETFs launched in 2025, with the third-place fund trailing by over 20 million. Within the first 30 minutes of trading, XRPC saw 26 million in activity, and it closed the session with net assets exceeding 250 million, backed by nearly 109 million XRP tokens.

This strong opening was bolstered by an in-kind creation and redemption model, approved by the U.S. Securities and Exchange Commission in July, which allows shares to be exchanged directly for XRP...