Canary Capital’s XRPC, the first U.S. spot exchange-traded fund (ETF) pegged to payments-focused token XRP, marked an impressive debut Thursday with $58 million in trading volume — the highest for any ETF launched this year across more than 900 fund launches, according to Bloomberg ETF analyst Eric Balchunas.
The volume numbers narrowly edged out Bitwise’s Solana ETF (BSOL), which logged $57 million on its first day, putting the two funds in a league of their own as the clear front-runners for 2025. Notably, the third-place ETF’s trailblazer lagged behind by over $20 million, underscoring the strong investor demand and interest focus on these two digital assets.
The XRPC ETF’s strong start indicates increasing institutional interest in diversifying their digital asset investments beyond bitcoin and ether. Despite muted immediate price reaction for XRP itself, the ETF’s strong trading volume indicates growing demand for regulated, mainstream investment vehicles that offer direct exposure to altcoins.
It remains to be seen whether the early volume trends of the XRPC ETF will continue, underscoring investor interest in the XRP Ledger’s real-world payment functionality and scalability.
