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Canary Capital’s XRPC, the first U.S. spot exchange-traded fund (ETF) tied 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’s ETF analyst Eric Balchunas.
The volume tally 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 trailblazer lagged behind by over $20 million, underscoring the strong investor demand and interest focused on these two digital assets.
The XRPC ETF’s strong start indicates growing institutional interest in diversifying their digital asset investment beyond bitcoin and ether. Despite a 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 if the early volume trends for the XRPC ETF will continue, underscoring investor interest in XRP Ledger’s real-world payment utility and scalability.
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