Could a spot XRP exchange-traded fund (ETF) notch the year’s hottest start for any fund?
It’s likely, according to Bloomberg’s Senior ETF Analyst Eric Balchunas, who observed in a post on X that the Canary XRP ETF, which started trading on the Nasdaq today under the ticker XRPC, had already usurped his full-day prediction for trading volume after just 30 minutes on the open market.
Balchunas had set a full-day target of $17 million worth of trading volume, but XRPC had already hit $26 million in volume within its first 30 minutes.
“Wow, gonna blow away my $17M guess,” Balchunas posited, adding that the XRP ETF has a “good shot” of outperforming the Bitwise Solana Staking ETF (BSOL) as the most successful debut this year with $57 million in volume.
Canary submitted an 8-A form with the Securities and Exchange Commission on Monday to register its XRP ETF, which tracks the spot price of XRP, the industry’s fourth most valuable cryptocurrency.
XRPC enables traditional investors to access XRP and network-generated rewards through a brokerage account, eliminating the need to directly purchase and store the cryptocurrency.
Canary’s XRP fund is the second one in the United States, following Rex-Osprey’s September launch. The fund raised approximately $37 million on its first day and currently has more than $125 million in assets under management.
The new ETF comes on the heels of President Trump signing a bill on Wednesday to end the longest government shutdown in history officially.
XRP was changing hands at around $2.31 as of press time, down 1.4% on the day as Bitcoin’s price fell below the psychologically important milestone of $100,000 for the third time this month on Thursday.
Source: https://zycrypto.com/canarys-xrp-spot-etf-racks-up-26m-volume-in-30-minutes-has-good-shot-of-record-breaking-debut/
