The American market for crypto ETFs continues to surprise. Canary Capital has launched its XRP spot ETF, XRPC, and the figures on the first day immediately set new records. In just a few hours, the product attracted $58 million in volume, becoming the best launch of the year among nearly 900 ETFs released since January. A lightning start, $26 million within the first hour of trading, confirming investors’ continued appetite for the most liquid digital assets.
On the inflow side, XRPC recorded $245 million in net inflows for its launch. An equally impressive figure, but one that will need to last over time.
XRP Surpasses Solana, and by Quite a Margin
The previous record belonged to the BSOL Bitwise Solana ETF, which had achieved $57 million in volume at launch. An impressive score, followed by an even more spectacular second day at $72 million. XRPC, however, has just surpassed it on its debut, during a catastrophic day for the crypto market.
The contrast is clear. In the United States, where crypto ETFs are being released rapidly, only XRPC and BSOL are operating in this ‘elite’ category, far ahead of other launches this year.
A Market Already White-Hot
This striking success comes at a time when crypto ETFs are multiplying, sometimes with very different approaches. In September, REX Shares had launched XRPR, an ETF partially backed by XRP but diversified with holdings in other ecosystem-related funds. The result: a solid start at $37.7 million. Before that, REX-Osprey’s DOGE ETF had reached $17 million.
XRPC, however, positions itself at the top of the scale: direct exposure, transparent structure, perfect timing.
Micro-Transition: And Now that Everything is Launched?
The restart of the US government has reopened the floodgates for numerous pending ETF requests. The SEC has issued new guidelines allowing issuers to resume their processes, paving the way for a new wave of products to come. The DTCC has already registered five XRP spot ETFs in its ‘active and pre-launch’ category, evidence that the ecosystem is organizing.
A Momentum Driven by Market Psychology
The success of an ETF does not depend on consensus, but on the passion it inspires. As Matt Hogan, CIO of Bitwise, points out, it’s better to have a base of convinced investors than a vast indifferent majority. The record volumes for XRPC confirm this rule: XRP mobilizes a community ready to heavily invest from the first minutes.
In a session marked by strong crypto volatility, XRP did not resist the general decline, now holding around $2.30 after a 9% drop in 24 hours.
A New Step in the Battle of Crypto ETFs
Spot ETFs have become the preferred battleground for different issuers. Bitcoin and Ethereum paved the way, Solana confirmed the trend, and now XRP enters the competition with a booming entry.
A clear message to investors: crypto products continue to professionalize, and Wall Street giants are far from finished expanding their offerings. XRPC will not be the last… but it has reminded us that in this market, the first impression can change everything.
