Key Takeaways
- •Canary Capital's XRP ETF achieves the largest ETF debut of 2025.
- •XRP price rose over 2.5% amid the ETF launch.
- •Institutional interest in XRP appears to be growing, despite a lack of direct commentary.
The first US XRP spot ETF, launched by Canary Capital under the ticker XRPC on Nasdaq, witnessed an impressive $243 million net inflow on its second day. This follows a zero net inflow on launch day, surpassing Bitwise’s Solana ETF debut.
Canary Capital launched the first US XRP spot ETF, XRPC, on Nasdaq with zero net inflow on day one followed by $243 million on day two.
Launch of the XRPC ETF
The launch of the XRPC ETF marks a significant milestone for Canary Capital, achieving the largest ETF debut in 2025. Despite an uneventful first day, $243 million in inflows occurred on the second day, sparking interest.
Canary Capital, as the issuer of the XRPC ETF, has positioned itself in the evolving landscape of cryptocurrency ETFs. The firm's third crypto ETF failed to elicit public comments from key executives, highlighting a gap in public engagement.
Market Reactions
Market reactions were immediate, with XRP prices increasing by 2.5% while Bitcoin and Ether experienced declines. These movements underscore XRPC's role in shifting cryptocurrency market dynamics and hint at institutional interest.
Large inflows in XRPC suggest institutional involvement, yet no explicit confirmations from major funds or officials have emerged. This implies a quieter yet potentially impactful drive towards increased XRP holdings among undisclosed entities.
Given this, it appears that while there was significant market activity related to the XRPC ETF, including notable inflows and price movements, the absence of direct commentary from relevant parties limits the availability of quotable material.
The absence of direct commentary from key industry figures or KOLs on XRPC creates an information gap. Nevertheless, given historical ETF launches, XRPC's success may suggest increased demand for regulated digital asset access. The ETF's debut overshadowed the previous record set by the Bitwise Solana ETF, affirming the growing momentum behind XRP as a favored institutional asset.