Canary XRP ETF nets record trading volume of all ETFs launched this year
While cryptocurrencies had a rough day on Thursday, Canary’s XRP ETF had a record debut.
Canary Capital’s Canary XRP ETF launched Thursday and saw record trading volume, despite the overall crypto market crashing. The fund, trading on the Nasdaq under the ticker XRPC, registered $58.5 million in volume on its first day.
Congrats to $XRPC for $58m in Day One volume, the most of any ETF launched this year (out of 900), BARELY edging out $BSOL's $57m. The two of them are in league of own tho as 3rd place is over $20m away. pic.twitter.com/MjsOeceeNb
— Eric Balchunas (@EricBalchunas) November 13, 2025
Steven McClurg, founder and CEO of Canary Capital, told Sherwood News that despite the fact that markets were down “miserably” on Thursday, XRPC has set the highest first-day trading volume of any ETF in 2025.
Cryptos overall have been crushed this week, and XRP, Ripple’s native token, is down 8.5% over the past 24 hours.
“With total AUM after its first day just above $250M this achievement is a reflection of the immense demand from retail and institutional traders who have been desiring access to digital assets such as XRP for the past few years. The success is telling and we look forward to seeing XRPC continue to serve as an unique opportunity to access XRP,” McClurg said.
This figure surpasses the Bitwise Solana Staking ETF, launched on October 28, which had set the previous record with $56 million in first-day trading volume.
Jake Hanley, managing director and senior portfolio specialist at Teucrium Investment Advisors — which launched the first-ever XRP-based ETF in April, the 2x Long Daily XRP ETF — told Sherwood that “frankly, none of it surprised me.”
“The XRP Army showed once again that they don’t mess around. There was plenty of social media activity leading into this launch, and the community came out in full force. More than $58 million in first-day trading volume. That’s impressive, but given the momentum behind XRP’s ecosystem, it wasn’t unexpected,” Hanley said.
Hanley said that XRP is one of the digital assets with real-world use cases, and Ripple continues to expand its business lines.
“Combine that with one of the most loyal and mobilized communities in crypto, and you get days like this. So while I can’t comment on the product itself, I can say the enthusiasm we saw today is another strong moment for the broader XRP community.”
A slew of additional XRP ETFs amended their filings and are set to hit the market next week, including those from Franklin Templeton, Bitwise, Grayscale, and WisdomTree.
In September, the launch of the Rex-Osprey XRP ETF marked the first XRP ETF available in the US. That month, the SEC approved generic listing standards for crypto ETFs, paving the way for speedier listings. Approvals now don’t require 19b-4 filings, eliminating that roadblock. There are currently more than 150 altcoin ETFs tracking 35 assets filed with the SEC.
“Everything in crypto that can go public will seek public markets. XRP’s ETF debut proves crypto is breaking out of the BTC-ETH box. This is how digital assets go fully mainstream,” Maja Vujinovic, CEO and cofounder of digital assets at FG Nexus, told Sherwood.
