XRP ETF debuts with $58M day-one volume as tokens stay flat
Canary Capital’s XRP ETF launched with $58 million in day-one volume, narrowly surpassing Bitwise’s Solana staking ETF launch of $57 million last month. The early turnover indicates tangible investor interest in a regulated XRP vehicle, giving the new product a stronger opening than some recent crypto ETFs. Yet the broader market response was muted: XRP and other Ripple-related tokens registered little movement during the session despite the ETF’s momentum.
The debut matters because an ETF can create a cleaner on-ramp for institutional capital and improve liquidity over time, potentially supporting price discovery. The lack of an immediate price reaction suggests flows may take time to filter into spot markets or that expectations were already priced in. Traders and institutions will watch subsequent inflows, redemption patterns and exchange filings to gauge whether the ETF drives sustained demand or remains a separate, paper-market interest.