Canary Capital’s spot XRP exchange-traded fund, XRPC, began trading on Nasdaq with a record first-day performance. The fund reported approximately $58 million in trading volume and generated roughly $245 million in net asset inflows. Market data indicate that XRPC now ranks as the strongest US ETF debut of 2025 by trading volume.
The listing came on the same day as the reopening of the United States government, which helped restore some risk appetite. Even so, the ETF launch landed during a broader downturn in digital assets, so investors balanced new XRP exposure with caution.
At the same time, Bitcoin slipped below $96,000, which underscored the risk-off mood in crypto markets. Supporters note that the product gives institutions a regulated channel to gain XRP exposure without holding the token directly.
Regulatory conditions surrounding XRP have shifted following the US Securities and Exchange Commission’s closure of its lawsuit against Ripple. That decision removed a long-running source of uncertainty and encouraged new listings and corporate partnerships tied to the token. As a result, the XRP market now appears more accessible to large asset managers. Many prefer clear rules before committing capital.