First Spot XRP ETF Live: Impressive Debut With $36M Volume, Challenging BSOL Record

Canary Capital’s recently launched spot XRP ETF has already reached over $36 million in trading volume within three hours, making the product a serious contender for the most successful debuting exchange-traded fund (ETF) of 2025.

On November 13, XRPC was trading at $25,74 at 16:43 UTC, resulting in volume representing 63% of Bitwise's first day performance Solana ETF (BSOL), currently the benchmark among more than 850 fund launches in 2025.

Eric Balchunas, a senior ETF analyst at Bloomberg, has predicted the fund will significantly surpass its original estimate of $17 million and potentially surpass BSOL's opening record of $57 million.

Over the 24 hours surrounding the launch, the XRP price rose 3,3% to $2,41, while Ethereum and Solana fell 1,4% and 1,3%, respectively. This divergence points to concentrated buying interest specifically related to the new investment vehicle, rather than broader market dynamics.

Canary Capital has positioned its product around the technical architecture of the XRP Ledger, emphasizing that on a platform like X, the network “represents an industry-leading foundation for global payments, purpose-built for interoperability and true settlement.” This positioning emphasizes payments infrastructure over speculative trading, aligning with Ripple’s long-standing narrative of enterprise adoption.

Regulatory framework gives meaning to the launch

The approval of this fund has broader significance than just the trading statistics. The Securities and Exchange Commission (SEC) took legal action against Ripple Labs for years before reaching a settlement three months ago.

Following this decision, the XRPC now becomes the first public spot investment product for XRP to be registered under the Securities Act of 1933.

Nate Geraci, president of NovaDius Wealth, declared on November 2nd that this launch represents “the final nail in the box of previous anti-crypto regulators.” On November 11th, he noted that just a year ago, the SEC invoked a court ruling that XRP was not a security. Geraci called it a “night and day” shift in crypto regulation over the past year.

Moreover, on October 29, he predicted that the fund would “easily” attract $1 billion in assets within months, with “inflows dramatically exceeding expectations.” In September, experts predicted that XRP ETFs could generate $8 billion in inflows in their first year.

The launch of the XRPC will primarily test institutional investor demand for XRP, despite the years of legal uncertainty the SEC has created for Ripple, which is only now beginning to change.

Frequently Asked Questions

What are the implications of the launch of the XRPR ETF for the European crypto market?
The launch of this ETF could increase interest in XRP, and potentially boost other cryptocurrencies as well, if it shows there is significant institutional demand.

How does the SEC's recent settlement with Ripple impact the future of cryptocurrencies?
This settlement represents a significant advancement in cryptocurrency regulation, likely encouraging other projects to engage with the SEC and restore investor confidence.

Can We Meet Expected $8 Billion Inflows into XRP ETFs?
If institutional interest continues and investors appreciate XRP’s potential, it’s quite possible these predictions will become reality within the first year of trading.