Canary Capital has launched the first exchange-traded fund (ETF) to offer spot exposure to XRP, expanding the crypto ETF landscape beyond bitcoin ether and solana .
XRP has risen modestly over the past 24 hours to $2.46, but is up 7.8% over the past week, solidly outperforming most major cryptocurrencies.
The fund, which will begin trading on Nasdaq starting today under the ticker XRPC, is structured under the Investment Company Act of 1940 – a regulatory framework that mandates the use of a qualified custodian to hold the underlying crypto assets.
Canary Capital, Bitwise, Franklin Templeton and 21Shares had all submitted new documents for their spot XRP funds, with Canary Capital being the first to do so.
“XRP is one of the most established and widespread digital assets in the world, accessibility to XRP through an ETF will enable the next wave of adoption and growth in a critical blockchain system,” said Steven McClurg, CEO of Canary Capital, in a statement. “We believe that XRP will play a key role in the development of our global financial system.”
The fund gives traditional investors access to XRP and network-generated rewards through a brokerage account without having to manage crypto assets directly.
XRP, which powers the Ripple payment network, operates on a consensus mechanism that is different from proof-of-stake blockchains like Ethereum or Solana. However, the ETF’s design offers return features tied to blockchain participation, positioning it as part of a new category of digital asset funds that pool potential income with crypto exposure.
The new fund reflects ongoing developments in the crypto ETF space as issuers and regulators test new ways to package blockchain-native features as stakes or returns into regulated investment vehicles designed for broader market access.
