XRP ETF matches Solana’s record with $59m first-day trading volume

Key Takeaways

How did the XRP ETF perform on its debut?

The Canary XRP ETF (XRPC) traded $59 million worth of shares on its first day, matching Solana’s record-setting launch.

What does this signal for institutional XRP demand?

The strong debut suggests significant investor appetite for regulated XRP exposure, with the ETF moving 2.26 million shares and experiencing 11% intraday volatility as markets discovered the price.

The Canary XRP ETF launched with a bang on 13 November, delivering $55.5 million in first-day trading volume that rivals the year’s best crypto ETF debut.

Nasdaq data showed that XRPC closed its inaugural session at $24.5538 after moving 2.26 million shares. 

The stock traded in a wide range between $24.22 and $26.89, showing the typical price discovery volatility that accompanies major ETF launches.

XRP matches Solana’s momentum

The performance puts XRP ahead of Bitwise’s Solana ETF (BSOL), which recorded $56 million on its 28 October debut. Bloomberg analyst Eric Balchunas called the SOL ETF launch “the best ETF debut of 2025 in any asset class.”

Now the new token has matched that achievement.

What the numbers mean

The $59 million represents real institutional and retail dollars flowing into regulated XRP exposure. Investors can now access it through traditional brokerages, eliminating the need to navigate crypto exchanges.

The 11% intraday swing reflects natural volatility as markets establish fair value. This typically stabilizes after the first few sessions.

The race continues

The strong showing comes as multiple issuers race to capture market share. Bitwise, Grayscale, WisdomTree, and Franklin Templeton all have XRP ETF applications pending with regulators.

Canary Capital’s first-mover advantage could prove decisive. ETF launches favor early entrants who build investor loyalty before competitors flood the market.

The over $59 million opening day suggests Canary captured significant pent-up demand for regulated XRP products.

The debut also validates the broader thesis that altcoin ETFs can succeed beyond Bitcoin and Ethereum.

XRP and Solana both proved investors will embrace properly structured crypto products when offered through traditional financial channels.

As of this writing, it was trading at around $2.3, with an over 3% decline.