Canary Capital’s XRP ETF has finally launched, drawing immediate attention as a new vehicle offering direct exposure to XRP. The debut quickly became one of the most active ETF openings of the year, reflecting heightened interest in cross-border settlement assets.

Bloomberg ETF analyst Eric Balchunas said on social media platform X on Nov. 13 that the Canary XRP ETF (Nasdaq: XRPC) recorded $58 million in first-day trading, the highest for any ETF launched this year among roughly 900 products. He noted it narrowly exceeded Bitwise‘s solana ETF (BSOL)’s $57 million, adding that both funds ranked well ahead of the next entrant, which trailed by more than $20 million.

The market reaction followed Canary Capital’s launch announcement on social media platform X on Nov. 13:

Canary Capital is proud to announce the launch of the spot XRP ETF – $XRPC.

Read more: Solana ETF by Bitwise Dominates 2025 Launches—and Day 2 Blows Past Expectations

The company added: “With its focus on cross-border transactions, XRP is often seen as the ‘bridge asset’ connecting traditional finance and digital liquidity.” It further expanded on the ledger’s design: “We believe the XRP Ledger represents a leading framework for global payments — purpose-built for interoperability and real-world settlement. Its design enables low-cost, near-instant transfers with growing adoption across enterprise and fintech ecosystems.”

Canary Capital also noted that its XRP ETF is not a commodity pool or a registered investment company, placing it outside the regulatory structure applied to products governed by the Investment Company Act of 1940. The launch followed the company’s 8-A filing with the U.S. Securities and Exchange Commission (SEC) and Nasdaq’s listing certification.

• Why is Canary Capital’s new XRP ETF launch significant for investors?
  It immediately became one of the most heavily traded ETF debuts of the year, signaling elevated institutional and retail demand for exposure to cross-border settlement assets.
• What drove the unusually high first-day volume of the XRPC ETF?
  Bloomberg data showed $58 million in opening-day trading, surpassing all other ETF launches this year and indicating strong market confidence in XRP-focused products.
• How does the ETF position XRP within the global payments landscape?
  The issuer emphasized XRP’s role as a bridge asset for cross-border transactions and highlighted the XRP Ledger’s architecture for low-cost, rapid settlement and enterprise-grade interoperability.
• What regulatory structure applies to the Canary XRP ETF?
  The fund is neither a commodity pool nor a registered investment company, situating it outside the Investment Company Act of 1940 and giving it a distinct compliance profile compared with traditional ETFs.

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