By The Numbers: First Spot XRP ETF Achieves Record Launch Amid 900 Competitors

Overview

Canary Capital’s XRP ETF marked a significant milestone with its launch, achieving a record trading volume on its first day. This event has drawn attention from market analysts and experts, highlighting the ETF’s potential impact on the crypto landscape.

Historic Launch of the XRP ETF

On Thursday, the XRP ETF by Canary Capital made its debut, generating an impressive trading volume of $58 million on its first day. This achievement set a record for the most traded ETF launch within the year. The launch occurred in a competitive environment, as there were 900 other ETFs vying for attention in the market. The success of the XRP ETF was recognized by Bloomberg expert Eric Balchunas on the social media platform X, showcasing the ETF’s remarkable entry into the market.

The launch had a notable effect on the price of XRP, initially pushing it towards the significant $2.5 mark. However, the price experienced a 4% retracement, settling at a trading price of $2.3.

Potential of the XRP ETF

Canary Capital’s CEO, Steven McClur, expressed optimism regarding the XRP ETF’s ability to attract institutional investment. He pointed to XRP’s strong liquidity and global utility as key factors that could enable the ETF to outperform others in the market, specifically mentioning Bitwise’s Solana Staking ETF, which had a trading volume of $57 million.

Market analysts expect that the approval of asset managers such as Franklin Templeton, Bitwise, and Grayscale in the upcoming weeks could lead to a surge of institutional investments ranging from $4 to $8 billion. This influx of capital might trigger a significant price increase for XRP, especially considering the current low liquidity in the market.

Impact on the Crypto Market

• The XRP ETF launch has set a record for trading volume, potentially influencing future ETF launches.
• The initial price movements of XRP suggest increased market interest and volatility.
• Analysts anticipate a bullish sentiment surrounding XRP, with expectations for significant institutional investments.
• The success of the XRP ETF may encourage further approvals of similar financial products in the crypto space.
• The ETF’s performance could lead to new price benchmarks and trading strategies within the market.

Updated: 11/14/2025, 7:22:26 AM