KEY TAKEAWAYS
- XRPC recorded about $58M in first-day trading and reported $245M in inflows, showing strong early interest from larger investors.
- The ETF makes XRP easier to access through standard brokerage accounts, which can expand its audience and improve overall liquidity.
- The real test will be sustained creations, NAV premiums or discounts, and on-chain liquidity trends in the coming weeks.
First-day inflows reached $245M, showing strong early demand. The ETF lets investors get XRP exposure through regular brokerage accounts.
Canary Capital launched its spot XRP ETF, XRPC, on November 13, 2025, on Nasdaq. The fund saw about $58M in trading volume during its first day and reported around $245M in creations and inflows.
XRP’s price moved only slightly during the session. Gemini and BitGo handle custody, and the fund uses a major benchmark for pricing. More XRP ETFs are set to go live soon, adding to the momentum.
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Spot XRP ETF: The Mechanics And Day-One Stats
XRPC by Canary Capital now trades on Nasdaq and uses Gemini and BitGo for custody of its XRP holdings. The fund relies on CoinDesk’s benchmark to calculate NAV. Trading started quickly with about $26M in volume during the first 30 minutes and closed the day at roughly $58M.
Canary also reported about $245M in creations and inflows. This figure can be higher than trading volume because large investors deposit XRP directly to create new ETF shares.
That process helps keep the ETF price aligned with its NAV because market makers can trade between the two when prices move out of sync. The smooth spreads on day one showed active participation and steady liquidity.
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Market Access, Institutional Flow Signal, And XRP’s Role
The ETF gives everyday investors and institutions a simple way to buy XRP through standard brokerage accounts. This lowers barriers for groups that prefer regulated products.
XRPC arrives during a busy year for new crypto ETFs, so competition for attention and inflows will be important.
Although strong inflows can support demand, they do not guarantee price gains. Exchange liquidity, on-chain reserves, and the ETF’s price relationship to NAV will help show whether demand grows beyond the fund itself.
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What Comes Next?
Three signals matter most now:
- Sustained creations over the next two weeks will show whether demand continues.
- A stable premium or discount will reveal market balance.
- On-chain liquidity shifts, such as declining exchange reserves, will show if ETF inflows are removing supply from the market.
Conclusion
The launch improves access to XRP, but ongoing inflows and liquidity trends will reveal the real impact over time.
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