XRP just made crypto exchange-traded fund history.
Investors poured nearly $250 million into Canary Capital’s spot XRP ETF launched November 13, marking the largest crypto ETF debut of 2025.
That’s according to Nate Geraci, co-founder of the ETF Institute and President of the ETF Store, who gushed about the debut on Thursday.
“Canary XRP ETF posts highest day one trading volume out of 900+ ETF launches this year,” he said on X. “Also nearly $250 million inflows.”
The explosive launch comes as Washington reopens after a historic shutdown, giving issuers confidence that crypto ETF applications will move through oversight agencies again. President Donald Trump signed the funding package on Wednesday to end the 43-day shutdown
Canary Capital’s CEO Steven McClurg said in August he expects $5 billion to flow into XRP ETFs in their first month.
On the same day, US spot Bitcoin ETFs saw $866 million in selling pressure, while Ethereum counterparts saw $260 million in outflow, according to DefiLlama data.
Not the first
Canary’s spot ETF is not the first investment vehicle for XRP.
The REX-Osprey XRP ETF was launched in September, but operates under the Investment Company Act of 1940, rather than the Securities Act of 1933, making it a different class of product.
Wall Street investment firms have also filed to launch XRP ETFs. Those include Fidelity, Invesco, and Franklin Templeton, according to the Depository Trust and Clearing Corporation.
New record
Still, this week’s debut stunned even ETF veterans.
“Congrats to $XRPC for $58 million in day one volume, the most of any ETF launched this year,” Eric Balchunas, senior ETF analyst at Bloomberg, said on X.
Eleanor Terret, host of the Crypto in America podcast, said on X: “With the $XRP Army behind it, is anyone really surprised?”
The price of XRP, the fourth biggest crypto by market value, has jumped over 200% in 2025 on the anticipation of approvals, and is trading around $2.30.
To be sure, it is still down 37% from the $3.65 set record set in July. On Polymarket, bettors are giving the price a 44% chance of hitting $2.60 before December.
Lacie Zhang, research analyst at Bitget Wallet, told DL News that “XRP’s expected range of $2.00-$2.65 corresponds with resistance near $2.50 amid cautious regulatory optimism.”
Ripple moves
Ripple, the company behind the XRP cryptocurrency, is also making big plays.
On November 5, the firm tripled its valuation to $40 billion after a $500 million strategic funding round including Citadel Securities, Fortress Investment Group, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
