XRP ETF Leads 2025 Launches With $58M in First-Day Volume

Canary Capital’s newly introduced XRP ETF has quickly become the most notable launch among this year’s ETFs. On its first day, the fund recorded over $58 million in trading volume, making it the strongest ETF debut of 2025 so far. However, this performance was not enough to support XRP’s price, which declined along with the broader market.

XRP ETF Performance Exceeds Expectations

The Canary Capital XRP ETF (XRPC), which invests in spot XRP, surpassed trading expectations almost immediately. In the first 30 minutes of trading, XRPC posted $26 million in volume, well above earlier estimates of about $17 million.

$XRPC at $26m in volume in first 30min, wow, gonna blow away my $17m guess. Has good shot at beating $BSOL's $57m as biggest Day One of any launch this year. pic.twitter.com/UrbHsRYxYV

— Eric Balchunas (@EricBalchunas) November 13, 2025

By the end of the session, total day-one trading volume reached roughly $58.6 million. Bloomberg ETF analysts Eric Balchunas and James Seyffart noted that these numbers make XRPC the largest ETF debut of 2025 so far, narrowly ahead of Bitwise’s Solana ETF (BSOL), which recorded $57 million. Total inflows into XRPC reached around $245 million, highlighting strong institutional interest.

Congrats to $XRPC for $58m in Day One volume, the most of any ETF launched this year (out of 900), BARELY edging out $BSOL's $57m. The two of them are in league of own tho as 3rd place is over $20m away. pic.twitter.com/MjsOeceeNb

— Eric Balchunas (@EricBalchunas) November 13, 2025

This debut shows that crypto-linked ETFs are moving beyond niche status. More investors are turning to them as a way to access digital assets without the challenges of direct exchange holdings or self-custody, which remain complicated and risky for many institutions.

Institutional Appetite Drives Growth

XRPC appears tailored for institutional investors such as hedge funds, family offices, and pension funds. These entities often face regulatory or compliance barriers to holding cryptocurrencies directly, making regulated ETFs an attractive alternative. Through XRPC, institutions can access XRP exposure in a framework that aligns with traditional financial compliance standards.

Analysts note that the ETF could act as a catalyst for XRP’s price, although the initial launch did not immediately translate into gains. Vincent Van Code suggested that arbitrage trading activity could create momentum for the token, anticipating a delayed correlation between the ETF’s popularity and XRP price movements.

People may look at this XRP ETF chart and think its bad.
It's actually really good. $58 million on day 1 in dollar volume making it a top performer. Now they have to replenish the basket and buy $50+/- million of XRP on open market. pic.twitter.com/KjVF8bFFKB

— Vincent Kennedy (@VincentCrypt46) November 13, 2025

This trend aligns with broader patterns in crypto ETFs. Nearly every spot crypto ETF launched in recent years has outperformed initial expectations, suggesting that institutional demand is reshaping market dynamics even amid broader market pullbacks.

XRP Current Price Movements

XRPC’s launch was widely seen as a success, but XRP itself saw a modest decline, trading at $2.28 after the debut, down around 8.5% over 24 hours. On-chain activity added to the fluctuation, with 110.5 million XRP moving between unknown wallets. The broader market also cooled, as global crypto capitalization fell nearly 6% to $3.2 trillion, while Bitcoin slipped below $100,000.

Still, optimism around XRP persists. Lower supply on exchanges, heightened on-chain activity, and growing institutional interest indicate a promising trajectory for Q4 2025. Analysts warn of short-term fluctuations, yet the broader structure supporting XRP’s growth is becoming stronger, particularly through regulated ETFs like XRPC.

An Outlook for XRP

XRPC’s launch highlights the increasing presence of cryptocurrency in mainstream financial markets. With more regulated investment options becoming available, XRP is likely to gain from greater liquidity and broader institutional participation.

Although XRP’s price did not jump immediately, the ETF’s performance indicates strong institutional interest and growing opportunities for investors seeking regulated exposure to digital assets. This could help stabilize the price and encourage long-term growth.