The first U.S.-listed spot XRP ETF made a striking debut, generating $26 million in trading volume within its first 30 minutes a performance that exceeded analysts’ expectations and sent a strong signal about rising institutional interest in the Ripple-backed asset.
The fund, launched on November 13 under the ticker XRPC and managed by Canary Capital, quickly surpassed Bloomberg analyst Eric Balchunas’ $17 million early-volume target. Balchunas also noted that XRPC is already pacing ahead of other altcoin ETF launches and could potentially surpass the first-day volume of BSOL, which reached $57 million on its debut.
While the $26 million figure falls short of the blockbuster launch volumes seen for Bitcoin and Ethereum ETFs, it represents a major milestone for XRP. By comparison, Litecoin’s spot ETF recorded only $1 million in volume during its first trading day on September 18.
Even so, the XRP ETF’s early momentum is far above most altcoin ETF debuts and is on track to become one of the most successful non-BTC, non-ETH ETF launches to date.
XRP Price Reacts to the ETF Launch
Following the ETF’s listing, XRP briefly climbed to $2.52 before pulling back to $2.36, ending the day with a slight 0.63% gain. Broader macroeconomic caution across the crypto market kept upside momentum contained, but the ETF launch still helped validate XRP’s position in the institutional space especially after years of legal battles and regulatory uncertainty.
More XRP ETFs Are Coming
The Canary ETF is only the beginning. Multiple major issuers are preparing their own XRP ETF launches in November, including:
- Franklin Templeton
- Bitwise
- 21Shares
- CoinShares
- Grayscale
- WisdomTree
The arrival of multiple XRP ETFs could dramatically expand the asset’s exposure to traditional investment markets and further solidify its presence among institutional traders.
