First Spot XRP ETF Smashes Initial Expectations, Expert Suggests Record-Breaking Debut

Overview

Canary’s spot XRP Exchange-Traded Fund (ETF) has exceeded initial expectations, showcasing strong institutional demand on its debut day. This launch signifies a crucial moment in the cryptocurrency market, particularly for XRP and its role in global payments.

Launch Details

The first single-token XRP spot ETF began trading on Nasdaq, following the successful navigation of regulatory hurdles. Canary Capital, the firm behind the ETF, emphasized its belief that the XRP Ledger serves as a significant framework for global payments, designed for interoperability and real-world settlement. The approval process included the completion of an 8-A filing with the US Securities and Exchange Commission (SEC), which was finalized just before the ETF’s launch.

The timing of this launch coincides with the conclusion of a 43-day US Government shutdown, which had been anticipated to delay the approval of various Altcoin ETFs. The SEC had been expected to approve several crypto-based investment products in the weeks following the shutdown, having postponed decisions in the previous quarter and introduced new generic listing standards.

Despite the government shutdown, the second wave of crypto-based investment products has emerged, with the first set of ETFs launching over two weeks prior. Canary Capital’s spot Litecoin and Hedera ETFs, along with Bitwise’s Solana Staking ETF, began trading shortly before the XRP ETF’s debut.

Performance Expectations

Prior to its launch, experts predicted that the spot XRP ETF might achieve between $15 million and $35 million in trading volume on its first day. Notably, senior ETF analyst Eric Balchunas initially anticipated a volume of $17 million. However, within the first half-hour of trading, the XRP ETF recorded $26 million in volume, surpassing expectations.

Analyst James Seyffart highlighted that by the half-day mark, the ETF had already reached approximately $46 million in volume, indicating strong demand. This performance places the XRP ETF in a competitive position against Bitwise’s SOL Staking ETF, which had previously set a high benchmark with $57 million in total volume on its first day.

Impact on the crypto market

• The successful debut of the spot XRP ETF may encourage further institutional investment in cryptocurrency.
• The strong trading volume could lead to increased interest in similar investment products.
• The launch demonstrates the resilience of the crypto market despite regulatory and governmental challenges.
• The competition among new ETFs may drive innovation and improvements in crypto-based investment strategies.
• This event could influence future regulatory decisions regarding cryptocurrency ETFs and related products.

Updated: 11/14/2025, 5:23:26 AM