 
 
Canary Capital’s spot XRP ETF (XRPC) had an impressive debut on Wall Street. XRPC generated $58 million in volume on the first trading day, the highest for any ETF launched this year.
Canary Capital’s XRP ETF Outperformed 900 ETF Launches Of 2025
Just days after submitting its pre-launch paperwork with the U.S. Securities and Exchange Commission (SEC), Canary Capital’s XRP ETF started trading and immediately garnered heavier-than-expected inflows.
The fund closed its first day with $58 million in trading volume, the highest for any exchange-traded fund introduced this year across more than 900 crypto and traditional fund launches, said Bloomberg ETF analyst Eric Balchunas. As ZyCrypto reported earlier, XRPC garnered $26 million within the first hour of trading alone.
The $58M tally narrowly edged out Bitwise’s Solana ETF (BSOL), which did about $57 million in day-one volume.
“The two of them are in league of own tho as 3rd place is over $20m away,” Balchunas noted Thursday, referencing the blockbuster XRPC and BSOL debuts this year.
 
XRPC posted approximately $250 million in inflows during its first trading day. Part of the reason behind the ETF’s strong start was the fund’s in-kind creation model, according to NovaDius Wealth President Nate Geraci.
“A few people asking how it’s possible to have ‘only’ $59mil trading volume, but nearly $250mil inflows… The answer? In-kind creations, which don’t show up in trading volume,” said Geraci in a Thursday post on X.
The XRP ETF has been on the crypto community’s radar since 2024 after Bitcoin and Ether funds went live, with the probability of an XRP product rocketing following the return of US President Donald Trump to the White House in and the ensuing pro-crypto regulatory stance.
Crypto investors consider spot ETFs as bullish price catalysts for the underlying assets, as the investment products draw capital from traditional financial markets into the crypto market. Nevertheless, the price of XRP dipped following the Canary ETF debut amid a broader market downturn.
The Ripple-affiliated cross-border payments token was changing hands at $2.31 as of press time, reflecting a 2.3% drop on the day, according to crypto market data provider CoinGecko.