{"id":62898,"date":"2025-11-14T07:16:49","date_gmt":"2025-11-14T07:16:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/canary-shakes-nasdaq-as-xrp-etf-launch-hits-58m-on-day-one\/"},"modified":"2025-11-14T07:16:49","modified_gmt":"2025-11-14T07:16:49","slug":"canary-shakes-nasdaq-as-xrp-etf-launch-hits-58m-on-day-one","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/canary-shakes-nasdaq-as-xrp-etf-launch-hits-58m-on-day-one\/","title":{"rendered":"Canary shakes Nasdaq as XRP ETF launch hits $58M on day one"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/11\/20251114_1135_XRP-ETF-Launch-Shockwave_simple_compose_01ka0fd3zwfa0vj51rve3gttte-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/11\/20251114_1135_XRP-ETF-Launch-Shockwave_simple_compose_01ka0fd3zwfa0vj51rve3gttte-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/11\/20251114_1135_XRP-ETF-Launch-Shockwave_simple_compose_01ka0fd3zwfa0vj51rve3gttte-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/11\/20251114_1135_XRP-ETF-Launch-Shockwave_simple_compose_01ka0fd3zwfa0vj51rve3gttte-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Canary Capital launched its spot XRP ETF, XRPC, on 13 November.<\/li>\n<li>The ETF recorded $58 million in trading volume on day one.<\/li>\n<li>The listing was approved under Section 8(a) of the Securities Act without objections.<\/li>\n<\/ul>\n<p>While most of the crypto market was digesting a sharp 3.5% decline on 13 November,<a href=\"https:\/\/coinjournal.net\/news\/nasdaq-certifies-xrp-etf-as-canary-capital-prepares-to-enter-crypto-fund-arena\/\"> Canary Capital\u2019s XRP ETF<\/a> surged to the top of the Nasdaq, recording the highest first-day trading volume of any fund launched in 2025.<\/p>\n<p>The spot product, listed under the ticker XRPC, registered $58 million in trading activity on its debut, overtaking all previous launches this year.<\/p>\n<p>Despite Bitcoin falling below $99,000 and a broader market slump, the appetite for regulated XRP exposure proved unshaken.<\/p>\n<p>By 9:30 am EST, $26 million in volume had already been clocked.<\/p>\n<p>Trading accelerated rapidly, with over $36 million executed by mid-morning.<\/p>\n<p>Robinhood alone facilitated $500,000 in trades within the first five minutes.<\/p>\n<h2>Canary takes the lead in the 2025 ETF competition<\/h2>\n<p>XRPC overtook Bitwise\u2019s BSOL ETF, which had previously led the 2025 pack with a $57 million opening day last month.<\/p>\n<p>Both products now sit well ahead of the remaining 900-plus ETFs launched this year.<\/p>\n<p>Bloomberg analyst <a href=\"https:\/\/x.com\/EricBalchunas\/status\/1989077502300680375?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1989077502300680375%7Ctwgr%5Eda41beda262bdf5f70c60a560813ba8b0a69d42e%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcrypto.news%2Fcanary-capital-xrp-etf-58m-first-day-volume-2025%2F\">Eric Balchunas highlighted<\/a> that the third-most traded ETF debut trails by more than $20 million, underscoring how rare such volume has become in new fund launches.<\/p>\n<p>The listing was certified by Nasdaq on 12 November under Section 8(a) of the Securities Act.<\/p>\n<p>Its approval came without delays due to the absence of pushback during the review period, allowing Canary to activate the launch immediately and avoid the bottlenecks many other issuers face.<\/p>\n<h2>XRPC offers direct access to XRP price action<\/h2>\n<p>Unlike derivative-based funds or futures products, XRPC holds physical XRP and tracks the CME CF XRP-USD Reference Rate (New York Variant) in real time.<\/p>\n<p>The ETF carries an annual fee of 0.50%. Custody is managed by Gemini Trust Company and BitGo Trust, both of which specialise in secure digital asset storage for institutional clients.<\/p>\n<p>Canary Capital Group, headquartered in Tennessee, already operates ETFs tied to Bitcoin, Ethereum and HBAR.<\/p>\n<p>The firm has positioned XRPC as a compliance-friendly solution for institutions looking to tap into XRP\u2019s role in global payments infrastructure without managing wallet keys or custody operations directly.<\/p>\n<h2>Payment-focused crypto tokens see renewed demand<\/h2>\n<p>The launch of XRPC also highlights a broader trend in digital asset markets.<\/p>\n<p>Utility tokens such as XRP and HBAR are attracting increasing institutional attention.<\/p>\n<p>Earlier this month, Canary\u2019s HBAR ETF raised $70 million within its first week.<\/p>\n<p>Analysts suggest this reflects rising demand for crypto assets linked to real-world use cases like payments and settlements.<\/p>\n<p>However, XRP\u2019s performance is not immune to broader crypto cycles.<\/p>\n<p>With a correlation to Bitcoin of nearly 40%, its price is often influenced by macro trends and volatility in the wider market.<\/p>\n<p>This makes the ETF\u2019s debut performance even more notable, as it succeeded in generating exceptional demand despite overall bearish sentiment.<\/p>\n<p>The strong launch of XRPC suggests investors are still actively seeking structured exposure to crypto assets that offer functional value.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/canary-shakes-nasdaq-as-xrp-etf-launch-hits-58m-on-day-one\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Canary Capital launched its spot XRP ETF, XRPC, on 13 November. The ETF recorded $58 million in trading volume on day one. The listing was approved under Section 8(a) of the Securities Act without objections. While most of the crypto market [&hellip;]<\/p>\n","protected":false},"author":3947362361,"featured_media":62899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/62898"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362361"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=62898"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/62898\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/62899"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=62898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=62898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=62898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}