First U.S. Spot XRP ETF Shows Strong Debut Volume, May Challenge Records

• Canary’s XRPC debuted on CBOE today, marking the inaugural U.S. spot XRP ETF.

• Early trading hit $26 million volume quickly, exceeding Bloomberg analyst Eric Balchunas’s $17 million estimate.

• By mid-day, volume reached $46 million, positioning XRPC to potentially top $BSOL’s $57 million Day One record for 2025.

Discover how the first U.S. spot XRP ETF launch is driving massive trading volume and reshaping crypto investment. Stay ahead with key insights on XRPC’s debut—explore now for regulatory and market updates.

What is the first U.S. spot XRP ETF and how does it work?

The first U.S. spot XRP ETF, Canary Capital’s XRPC, provides investors direct exposure to XRP’s price through a grantor trust structure, holding actual XRP tokens custodied by Gemini and BitGo. It tracks the CoinDesk CCIX New York XRP rate and trades on the CBOE exchange under the ticker XRPC. This launch follows years of regulatory hurdles for XRP, offering a compliant way for institutions and retail traders to access the asset without managing it directly.

How did early trading volume for XRPC perform?

The XRPC ETF generated $26 million in trading volume within its first 30 minutes, far exceeding pre-launch estimates from Bloomberg’s Eric Balchunas, who predicted $17 million for the full day. By later in the session, volume climbed to over $46 million, with analysts like James Seyffart noting its potential to rank among 2025’s strongest ETF debuts. This surge reflects pent-up demand after prolonged regulatory uncertainty surrounding XRP, as reported by market observers. Data from exchange trackers confirms tight spreads and robust liquidity, supporting efficient trading even in the initial hours. Institutions appear to be leading the inflows, integrating XRPC into broader portfolios amid rising crypto adoption.

Frequently Asked Questions

What makes Canary’s XRPC the first spot XRP ETF in the U.S.?

Canary Capital’s XRPC stands as the pioneering U.S. spot XRP ETF due to its direct holding of XRP tokens in a grantor trust, approved for listing on CBOE after filing Form 8-A. It offers transparent pricing tied to the CoinDesk index, with custody by trusted providers like Gemini and BitGo, enabling regulated access without the complexities of direct ownership.

Why is the XRP ETF launch volume so high right now?

The high volume for the XRP ETF launch stems from years of anticipation following Ripple’s legal battles, now resolved, drawing institutional capital seeking compliant exposure. Traders are responding to XRP’s utility in cross-border payments and its integration with traditional finance, making this a natural entry point for diversified crypto investments in voice searches for quick market updates.

Key Takeaways

• Record-Breaking Debut: XRPC’s $26 million in 30 minutes highlights unprecedented demand for spot XRP products.
• Pipeline Expansion: Seven more XRP ETFs from issuers like Bitwise and Grayscale are slated for launch across major exchanges in the coming weeks.
• Market Implications: Investors should monitor liquidity trends and prepare portfolios for increased XRP integration in institutional strategies.

Conclusion

The launch of the first U.S. spot XRP ETF, Canary’s XRPC, underscores a pivotal moment for XRP amid its growing role in global payments and blockchain applications. With early trading volumes shattering expectations and a robust pipeline of competing products, this development signals deeper mainstream adoption. As regulatory clarity strengthens, staying informed on XRP ETF trends will be essential for navigating future opportunities in the crypto market—consider evaluating your exposure to emerging digital assets today.

The first U.S. spot XRP ETF is off to a breakneck start, smashing early volume predictions and drawing fresh attention to the rapidly escalating XRP ETF race.

Key Highlights

• Canary’s XRPC, the first U.S. spot XRP ETF, launched today with strong early trading activity.
• The ETF hit $26 million in volume within the first 30 minutes, surpassing early predictions from Bloomberg’s Eric Balchunas.
• XRPC is now on track to challenge $BSOL’s $57 million Day One record, potentially becoming one of 2025’s strongest ETF debuts.

The long-awaited Canary XRP ETF (XRPC) made its public debut today, and the market did not blink. Within the first half hour of trading, XRPC exceeded expectations, delivering a volume spike rarely seen in 2025’s crowded ETF landscape.

For an asset class that has spent a decade fighting for regulatory clarity, the first U.S. spot XRP ETF is already reshaping the conversation.

What launched today

Canary Capital’s XRPC ETF listed this morning, offering investors exposure to XRP held in a grantor trust structure. The fund tracks CoinDesk’s CCIX New York XRP rate, holds real XRP tokens through custodians Gemini and BitGo, and lists on CBOE under the ticker XRPC.

The launch followed weeks of speculation after Canary filed its Form 8-A, the final step before exchange listing, triggering broad anticipation across retail traders, desk analysts, and institutions watching the early XRP ETF race.

Early trading estimates

Before the opening bell, Bloomberg senior ETF analyst Eric Balchunas urged the industry to place their bets; he was at $17 million. Just 30 minutes after XRPC went live, he was back online, this time sounding stunned.

Later, analyst James Seyffart pointed out that XRPC had crossed $46 million in volume with hours still left, calling it a near lock for one of 2025’s top ETF debuts and still in the running to beat BSOL’s record.

A swelling pipeline: 7 XRP ETFs in 12 days

The debut doesn’t happen in a vacuum. As Ripple Bull Winkle noted:

The next wave includes filings from Bitwise, 21Shares, Grayscale, and others, setting up a multi-exchange rollout that mirrors the Bitcoin ETF cluster earlier this year.

With multiple venues like Nasdaq, CBOE, and NYSE poised to list their own spot XRP products, the market is preparing for a coordinated influx of institutional pipelines and trading infrastructure.

What comes next

All eyes now turn to whether XRPC can maintain today’s early momentum and whether competing issuers accelerate timelines to capitalize on the attention. Market makers, asset managers, and corporate treasuries are watching how liquidity builds, how spreads tighten, and how quickly XRPC integrates into traditional risk models.

For now, one thing is clear: the XRP ETF era has officially arrived, and today’s open suggests the market was more than ready.

Also read: XRP Price Surges 10% as ETFs and U.S. Market Boost Spark Rally

Follow The COINOTAG on Google News to Stay Updated!

TAGGED:XRP