The post XRP ETF Posts Year’s Strongest Debut With $58 Million in First-Day Trading appeared on BitcoinEthereumNews.com. In brief Canary Capital’s spot XRP ETF recorded $58 million in first-day volume, edging out Bitwise’s Solana ETF. XRPC is the first spot fund of its kind in the U.S. and cleared early analyst forecasts on debut. Part of the flow came from liquidity providers and traders moving on brief pricing gaps, Decrypt was told. Canary Capital’s spot XRP ETF (XRPC) opened with $58 million in first-day trading volume, the strongest debut of any exchange-traded fund launched this year, even as crypto prices extended losses. Days after filing its pre-launch registration with the SEC, the fund began trading and immediately attracted heavier-than-expected flows and strong early interest. The benchmark figure was first noted by Bloomberg senior ETF analyst Eric Balchunas, who tweeted Thursday, citing Bloomberg data, that Canary’s ETF “barely” edged out Bitwise’s Solana staking ETF, which drew $57 million when it listed late last month.  The scale of the flows was unexpected. Balchunas initially projected around $17 million for XRPC, yet the fund cleared that within half an hour and closed the session as the year’s top debut.  Canary’s XRP ETF closed its debut session at $24.55, down 7.8% after a volatile first day, according to Barchart data. XRPC’s debut performance came as broader crypto markets spent the day in the red, down 3.5% in market capitalization terms to $3.43 trillion, per CoinGecko data. Bitcoin slipped 3.4% percent and Ether followed lower at 6.7%. Solana dropped about 5% on the day to $145, giving back part of its rally tied to BSOL’s earlier launch. Analysts say the scale of the debut points to strong demand for crypto exposure outside the established Bitcoin and Ether complex. “XRP has one of the strongest and most persistent retail communities in crypto, a level of fandom that’s difficult to quantify but has… The post XRP ETF Posts Year’s Strongest Debut With $58 Million in First-Day Trading appeared on BitcoinEthereumNews.com. In brief Canary Capital’s spot XRP ETF recorded $58 million in first-day volume, edging out Bitwise’s Solana ETF. XRPC is the first spot fund of its kind in the U.S. and cleared early analyst forecasts on debut. Part of the flow came from liquidity providers and traders moving on brief pricing gaps, Decrypt was told. Canary Capital’s spot XRP ETF (XRPC) opened with $58 million in first-day trading volume, the strongest debut of any exchange-traded fund launched this year, even as crypto prices extended losses. Days after filing its pre-launch registration with the SEC, the fund began trading and immediately attracted heavier-than-expected flows and strong early interest. The benchmark figure was first noted by Bloomberg senior ETF analyst Eric Balchunas, who tweeted Thursday, citing Bloomberg data, that Canary’s ETF “barely” edged out Bitwise’s Solana staking ETF, which drew $57 million when it listed late last month.  The scale of the flows was unexpected. Balchunas initially projected around $17 million for XRPC, yet the fund cleared that within half an hour and closed the session as the year’s top debut.  Canary’s XRP ETF closed its debut session at $24.55, down 7.8% after a volatile first day, according to Barchart data. XRPC’s debut performance came as broader crypto markets spent the day in the red, down 3.5% in market capitalization terms to $3.43 trillion, per CoinGecko data. Bitcoin slipped 3.4% percent and Ether followed lower at 6.7%. Solana dropped about 5% on the day to $145, giving back part of its rally tied to BSOL’s earlier launch. Analysts say the scale of the debut points to strong demand for crypto exposure outside the established Bitcoin and Ether complex. “XRP has one of the strongest and most persistent retail communities in crypto, a level of fandom that’s difficult to quantify but has…

                                                                               Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday.                     The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction.  “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more