First spot XRP ETF is LIVE: Recording $36M volume on debut, challenges BSOL record
Canary Capital’s spot XRP ETF surpassed $36 million in buying and selling volume inside its first three hours on Nov. 13, positioning the fund as a contender for the strongest exchange-traded fund debut of 2025.
The XRPC traded at $25.74 as of 4:43 P.M. UTC, producing volume equal to 63% of Bitwise’s Solana ETF (BSOL) first-day efficiency, which is the present 2025 benchmark amongst greater than 850 fund launches.
Bloomberg senior ETF analyst Eric Balchunas projected the fund would “blow away” his initial $17 million estimate and probably surpass BSOL’s $57 million opening-day record.
XRP climbed 3.3% to $2.41 within the 24 hours surrounding the launch whereas Ethereum and Solana declined 1.4% and 1.3%, respectively.
The divergence suggests concentrated shopping for curiosity tied to the brand new funding car relatively than broader market momentum.
Canary Capital framed its product round XRP Ledger’s technical structure, stating on X that the community “represents a number one framework for international funds, purpose-built for interoperability and real-world settlement.”
The positioning emphasizes fee infrastructure over speculative buying and selling, aligning with Ripple’s long-standing narrative round enterprise adoption.
Regulatory context frames launch significance
The fund’s approval carries weight past its buying and selling metrics. The Securities and Exchange Commission maintained energetic litigation towards Ripple Labs for 5 years earlier than settling three months in the past.
Following the choice, XRPC is the primary XRP public spot funding product registered below the Securities Act of 1933.
NovaDius Wealth president Nate Geraci acknowledged on Nov. 2 that the launch represents “the ultimate nail within the coffin of earlier anti-crypto regulators.”
On Nov. 11, he noted the SEC appealed a courtroom ruling that XRP didn’t represent a safety only one yr prior. Geraci acknowledged:
“Hard to explain crypto regulatory shift over previous yr. Night & day.”
Additionally, he predicted on Oct. 29 that the fund would “easily become” a billion-dollar product inside months, with “flows dramatically exceeding what persons are anticipating.”
Regarding inflows, consultants predicted in September that XRP ETFs would capture $8 billion of their first yr of buying and selling.
The launch assessments whether or not institutional demand for XRP exists, regardless of the SEC’s years of making a situation of authorized uncertainty for Ripple, which solely lately began to alter.
The publish First spot XRP ETF is LIVE: Recording $36M volume on debut, challenges BSOL record appeared first on CryptoSlate.