Canary Capital’s spot XRP fund posts one of 2025’s strongest ETF debuts with over $46M traded, even as XRP and XRPC both slip in value
The long-awaited launch of the Canary Capital XRP ETF (XRPC) drew significant investor interest on its first trading day, generating tens of millions in volume and positioning itself among the most active crypto ETF debuts of 2025. But despite the strong start, XRP’s price failed to rally and instead fell into a classic “sell-the-news” pullback, mirroring the ETF’s early intraday decline.
XRP ETF Records One of 2025’s Strongest Openings
The spot-based XRPC ETF pulled in more than $46 million in trading volume within hours, marking a powerful start for the new investment product. Bloomberg’s senior ETF specialists highlighted the unusually aggressive demand.
ETF analyst Eric Balchunas noted that the fund hit $26 million in just the first 30 minutes, while colleague James Seyffart called the momentum “near the top for 2025 launches,” adding that XRPC could still rival Bitwise’s Solana ETF for the year’s No. 1 spot.
Okay. 2.5 hours left in trading day and @CanaryFunds's $XRPC is already over $46 mln in day one trading. This is almost guaranteed to be near the top of the list for 2025 launches and still has a shot at beating $BSOL for the top spot. https://t.co/dKqCnUXZiLpic.twitter.com/q3B0Fqr4NC
“With over $46 million on day one, this is almost guaranteed to be at the top of 2025 ETF launches,” Seyffart said.
Early data underscores that institutional appetite for XRP exposure remains strong.
The ETF’s debut had been widely anticipated following the 2024 U.S. election cycle, which fueled expectations of a more crypto-friendly regulatory environment.
Prices Slip Despite Heavy ETF Demand
Despite strong trading activity, neither XRP nor its ETF enjoyed a price bump. XRP slipped 2.7% from a local high near $2.50 to $2.28, holding slightly above its 365-day moving average, a key long-term support line. XRPC mirrored the weakness, dropping 8% from nearly $27 to around $24.50 according to early market data.
Heavy pre-launch speculation often primes markets for short-term profit-taking once major catalysts go live.
Even with the launch-day dip, analysts remain optimistic. Earlier forecasts suggested XRP could target levels above $10 with full U.S. ETF approval, while JPMorgan estimated that an XRP ETF could draw up to $8 billion in inflows.
More conservative projections still expect XRP to reach $5 by late 2025, supported by ETF demand and an improved macro environment.
For now, the XRPC launch confirms robust institutional interest — but the market may need time before that enthusiasm translates into sustained price momentum.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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