Canary Capital’s new spot XRP exchange-traded fund was a record-breaking debut on Thursday, as it racked up $58 million in trading volume on the first day. The fund, with the ticker XRPC, is one of the ETFs launched this year that has posted the largest day-one volume. Thus, XRPC is now ahead of almost 900 other newly launched ETFs in trading volume on their first day, according to Eric Balchunas, a senior analyst at Bloomberg. The XRP-oriented ETF achieved $26 million during its first hour only, which is a clear sign that the demand for direct spot exposure to the token was very strong right from the start.
XRPC surpassed the record that was previously held by Bitwise’s Solana ETF (BSOL) in 2025, which had about $57 million in day-one activity before its second day raised the total to $72 million by $15 million. Balchunas said that XRPC and BSOL are two layers above the others, with their volumes, and the third place is lower by more than $20 million. This increment clearly shows that investors with a crypto focus are eager to have ETFs as a direct way of accessing their favorite digital assets, of which they can be sure, and at the same time are becoming more and more impatient to find out who will be the first issuer to lead the next wave of crypto ETF adoption.
The powerful entry was preceded by yet another milestone XRP-related ETF launch in September, when REX Shares unveiled XRPR — a fund that directly holds XRP and commits at least 40% of its portfolio to the ETFs related to the asset. On its first day, XRPR made $37.7 million in volume and thus, at that moment, it became the biggest ETF debut of the year. By contrast, the REX-Osprey DOGE ETF only managed a $17 million turnover on its first day, thus indicating that the demand for different digital assets is not the same and that the dynamics of the latter vary significantly.
While the Dozen of Crypto ETFs were waiting for the green light from regulators before the US government shutdown on Oct. 1, the SEC has figured out a way for companies to get their listings more quickly by issuing updated guidance. The Depository Trust and Clearing Corporation has just five spot XRP ETFs on its “active and pre-launch” list, which is a reflection of the continuing energy in the category. In fact, as the overall market was going down, XRP was quite stable at around $2.30 during Thursday’s session and thus was able to keep its strength to some extent while the fourth-largest cryptocurrency by market capitalization was experiencing intensified volatility.
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