Crypto fund attracts $250 million on first day, sparking bullish rotation among top traders
Canary Capital’s newly launched XRP exchange-traded fund (ETF) posted the strongest debut of any ETF in 2025, signaling renewed investor interest in altcoins. The fund garnered over $250 million in inflows on its first trading day, while trading volume reached $58 million, setting a new benchmark for crypto and traditional ETFs alike.
In-Kind Creation Model Boosts ETF Performance
Analysts attribute the ETF’s success to its in-kind creation and redemption structure, which allows ETF shares to be exchanged for XRP tokens instead of cash. This mechanism enables large inflows without corresponding trading volume on the market.
“A few people ask how it’s possible to have ‘only’ $58 million trading volume but nearly $250 million inflows. The answer is in-kind creations, which don’t show up in trading volume,” explained ETF analyst Nate Geraci.
Canary XRP ETF posts highest day 1 trading volume out of 900+ ETF launches this year (h/t @EricBalchunas)…
The U.S. Securities and Exchange Commission (SEC) approved in-kind creation and redemption for cryptocurrency ETFs on July 29, 2025, facilitating the launch.
Smart Money Traders Rotate Into XRP
The ETF debut triggered a bullish rotation among “smart money” traders, tracked by crypto intelligence platform Nansen. Over the past 24 hours, top traders added $44 million in net long XRP positions, signaling optimism for further price gains.
“XRP is holding near $2.30, showing relative stability but still feeling the effects of declining liquidity and cautious investor sentiment,” said Ryan Lee, Chief Analyst at Bitget. “The setup looks like a healthy reset, with XRP well-positioned to lead the next wave once confidence returns.”
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The debut highlights growing demand for altcoins and the increasing sophistication of crypto ETF structures. By combining transparency, liquidity, and in-kind mechanisms, Canary Capital’s XRP ETF has set a new standard for institutional and retail participation in the crypto space.
With $250 million in first-day inflows and record trading activity, the ETF demonstrates strong investor appetite and positions XRP as a leading contender in the next phase of crypto adoption.
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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