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Might a spot XRP exchange-traded fund (ETF) notch the yr’s hottest begin for any fund?
It’s probably, based on Bloomberg’s Senior ETF Analyst Eric Balchunas, who noticed in a submit on X that the Canary XRP ETF, which began buying and selling on the Nasdaq right this moment underneath the ticker XRPC, had already usurped his full-day prediction for buying and selling quantity after simply half-hour on the open market.
Balchunas had set a full-day goal of $17 million price of buying and selling quantity, however XRPC had already hit $26 million in quantity inside its first half-hour.
“Wow, gonna blow away my $17M guess,” Balchunas posited, including that the XRP ETF has a “good shot” of outperforming the Bitwise Solana Staking ETF (BSOL) as probably the most profitable debut this yr with $57 million in quantity.
Canary submitted an 8-A kind with the Securities and Trade Fee on Monday to register its XRP ETF, which tracks the spot value of XRP, the business’s fourth most respected cryptocurrency.
 
XRPC allows conventional buyers to entry XRP and network-generated rewards by way of a brokerage account, eliminating the necessity to immediately buy and retailer the cryptocurrency.
Canary’s XRP fund is the second in america, following Rex-Osprey’s September launch. The fund raised roughly $37 million on its first day and at the moment has greater than $125 million in belongings underneath administration.
The brand new ETF comes on the heels of President Trump signing a invoice on Wednesday to finish the longest authorities shutdown in historical past formally.
XRP was altering arms at round $2.31 as of press time, down 1.4% on the day as Bitcoin’s value fell under the psychologically essential milestone of $100,000 for the third time this month on Thursday.
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