Ripple’s XRP Ledger may be heading toward one of its biggest updates yet as community members intensify calls for native staking capabilities. The discussion is gaining momentum at the same time institutional interest is rising, thanks in part to the launch of the Canary Capital ETF, which has already sparked fresh enthusiasm around XRP.
XRP community pushes for native staking
Industry observers say the XRP Ledger is showing signs of evolving beyond its long-standing identity as a payments-focused blockchain. Community proposals around staking suggest a shift toward more DeFi-aligned functionality a direction already embraced by major networks like Ethereum, Solana, and Cardano.
So far, Ripple has not provided a timeline or technical details, but the growing push indicates that staking could become a meaningful part of the XRP ecosystem in the coming years.
Canary Capital ETF sees massive first-day demand
Fueling this renewed interest is the launch of the Canary Capital XRPC ETF, one of the first U.S. exchange-traded funds offering spot exposure to XRP.
The fund recorded $58 million in first-day trading volume slightly outperforming Bitwise’s BSOL ETF, which debuted last month with $57 million. With this performance, XRPC is already among the top-performing ETFs of 2025, far ahead of most of the nearly 900 funds that launched this year.
Despite a shaky crypto market with Bitcoin falling below $99,000 and total market cap slipping 3.5% to $3.43 trillion trading in XRPC was extremely strong:
- $26 million traded in the first 30 minutes
- Over $36 million by mid-morning
- Rapid retail activity via platforms like Robinhood
The ETF is a physical spot fund holding only XRP and tracking the CME CF XRP-USD Reference Rate. It carries a 0.50% annual fee and uses Gemini Trust and BitGo Trust as its custodians.
Why the ETF matters
Canary Capital, based in Tennessee, already manages Bitcoin, Ethereum, and HBAR ETFs. With XRPC, the firm aims to give institutions an easy way to access XRP without managing private keys, wallets, or custody risks.
Analysts say the strong first-day demand reflects growing interest in payment-focused crypto assets, a trend supported by Canary’s HBAR ETF, which raised $70 million in its first week.
At the time of reporting, XRP was trading around $2.10, down 5.4% for the day, according to CoinGecko.
Together, the staking discussions and the ETF launch suggest that XRP is entering a new chapter one that broadens its use cases while attracting more institutional capital.
