Overview
- Canary Capital’s XRPC, the first U.S. spot XRP ETF, launched on November 13 with nearly $250 million in day-one inflows and about $58 million in trading volume.
- XRP fell roughly 8%–9% within a day of the debut as derivatives data showed about $28 million in liquidations during a wider market downturn.
- The fund’s in-kind creation and redemption structure allows authorized participants to deposit XRP directly, which can mute immediate spot buying pressure.
- Additional XRP ETFs from established managers, including Franklin Templeton and Bitwise, are entering the market this week, expanding regulated access for institutional investors.
- Traders are watching the $2 support level as on-chain trackers flagged a $95 million transfer to Binance, and analysts caution that ETF inflows do not guarantee sustained price gains.