Canary Capital Launches Spot XRP ETF on Nasdaq
Date: 2025-11-14 Author: Henry Casey Categories: BUSINESS
On Wednesday, November 13, Canary Capital launched a new XRP-based spot ETF under the ticker symbol XRPC on Nasdaq. Regulatory approval was obtained through a Form 8-A filed with the US Securities and Exchange Commission, paving the way for automatic listing.
The ETF stores the cryptocurrency through custodians Gemini Trust Company and BitGo Trust Company. The price is tracked using the CoinDesk XRP CCIXber benchmark, which ensures transparent pricing. At the time of launch, XRPC's daily trading volume reached over $36 million, according to SoSoValue, significantly exceeding Bloomberg analyst Eric Balchunas's forecast of around $17 million. Other fund metrics, including total assets under management (AUM) and capital inflows, have not yet been disclosed.
Canary Capital CEO Stephen McClurg emphasized XRP's importance to the global financial system: "XRP remains one of the most popular digital assets, and accessing it through an ETF opens new opportunities for the development of blockchain infrastructure."
News of XRPC's launch had a positive impact on the XRP price: in 24 hours, the coin's price rose 3% to $2.40, with a weekly gain of 7%. This growth occurred despite the overall decline in the crypto market, demonstrating sustained investor interest in the asset.
It should be noted that on November 10, DTCC, a US provider of post-trade and clearing services, listed five spot XRP ETFs in the pre-launch stage. In addition to the Canary fund, the list includes products from Bitwise, Franklin Templeton, 21Shares, and CoinShares.
The launch of XRPC thus opens a new phase for institutional and retail investors, providing them with a convenient tool for participating in the XRP market without directly owning the cryptocurrency. The active attention paid to XRP-based ETFs reflects growing interest in integrating cryptocurrencies into traditional financial instruments, and XRPC's high liquidity has already demonstrated significant demand for such products.
Monitoring the price dynamics and subsequent initiatives by other companies will allow us to assess the impact of these funds on the digital asset market and the further adoption of blockchain technologies in the financial system.
