Canary’s XRP ETF Tops 2025 Debuts with $58M Day-One Volume

Canary Capital’s XRPC, the first U.S. spot ETF linked to payments-focused token XRP, launched Thursday with a striking $58 million in trading volume, making it the largest ETF debut of 2025 so far, according to Bloomberg analyst Eric Balchunas.

The fund narrowly surpassed Bitwise’s Solana ETF (BSOL), which recorded $57 million on its first day. The two ETFs now stand out as the clear front-runners among more than 900 fund launches this year, with the third-place ETF trailing by more than $20 million—a reflection of strong investor interest in these digital assets.

The strong debut of XRPC highlights growing institutional demand for regulated, mainstream vehicles offering exposure beyond bitcoin and ether. While XRP’s price showed little immediate reaction, the ETF’s trading volume signals confidence in the altcoin’s broader adoption and investment potential.

Whether XRPC can maintain this momentum will depend on continued investor appetite for XRP Ledger’s real-world payment utility and scalability, as the market watches for signs of sustained institutional interest.