- First spot XRP ETF launches with $58M volume on debut.
- SEC’s greenlight reflects a shift towards crypto-friendly regulation.
- Launch impacts major cryptos, with BTC and ETH seeing outflows.
The first spot XRP ETF, listed as XRPC, made its debut on Nasdaq, marking a significant milestone in digital asset markets.
Introducing this ETF is pivotal for broader crypto adoption and regulatory positioning, affecting financial flows and market strategies.
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The launch of the first spot XRP ETF on Nasdaq, listing as XRPC, marked a pivotal moment for digital asset markets. With a starting day trading volume of $58 million, it became the biggest ETF debut of 2025. According to CoinDesk, the debut underscored investors’ interest in diversified crypto assets.
Canary Capital issued the XRPC ETF and spearheaded its launch. Steven McClurg, CEO of Canary Capital, emphasized XRP’s crucial role in evolving global financial systems. Regulatory support from the SEC was pivotal, highlighting a shift towards regulatory acceptance.
“XRP is one of the most established and widely used digital assets in the world, accessibility to XRP through an ETF will enable the next wave of adoption and growth in a critical blockchain system. We believe XRP will play a key role in the evolution of our global financial system.” — Steven McClurg, CEO, Canary Capital
XRP’s market impact was significant, with the asset closing day one at $24.55, although there was a 7.8% decrease. The ETF’s debut affected broader market dynamics, with BTC and ETH ETFs experiencing outflows totaling near $1 billion.
The ETF’s unique in-kind creation model, allowing share exchange for actual XRP tokens, supported on-chain liquidity. Regulatory approval by the SEC may pave the way for additional spot crypto ETFs in the future.
The Aug 2025 SEC v. Ripple settlement set the stage for the ETF, establishing XRP as a non-security. This aligns with historical trends where regulatory clarifications have promoted growth in digital markets. Insights suggest potential for further institutional adoption of XRP, as well as broader crypto-friendly regulations in the U.S. Increased acceptance of digital assets in traditional finance could drive technological and financial innovations. Historical data supports this trajectory.
