Canary's Spot XRP ETF Beats Estimates, Eyes Record-Breaking Debut
Canary's first spot XRP ETF began trading on Nasdaq Thursday and immediately surpassed the initial performance expectations set by market observers. Heavy institutional interest on day one pushed the vehicle toward what analysts are calling a potential record-breaking debut, after the fund cleared the last regulatory obstacles this week. Trading activity and custody inflows were notably robust versus early forecasts, underscoring strong demand from larger market participants.
The early reception matters because it signals renewed institutional appetite for tokenized XRP exposure and could increase liquidity and price discovery in the broader XRP market. While upbeat, the launch also raises questions about short-term volatility and whether similar single-token spot ETFs will follow. Investors will be watching volumes, premium/discount behaviour and custody flows over coming sessions to judge whether the first-day momentum sustains into a longer-term market impact.