On November 13, trading commenced on Nasdaq for spot ETFs based on XRP under the ticker XRPC. The product was launched by Canary Capital.
On Thursday, Nasdaq officially notified the U.S. Securities and Exchange Commission of receiving Canary’s application via form 8-A. This step allows for “automatic” listing approval.
The exchange-traded fund holds XRP through custodians Gemini Trust Company and BitGo Trust Company, using the CoinDesk XRP CCIXber benchmark for pricing.
At the time of writing, XRPC’s trading volume exceeded $36 million, according to SoSoValue. Other product data such as AUM and inflows are not yet available.
Bloomberg analyst Eric Balchunas noted that the turnover significantly exceeded his $17 million daily estimate.
$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
“XRP is one of the most widespread and widely used digital assets in the world. Access to the coin through an ETF will ensure the next wave of adoption and growth of critical blockchain infrastructure. We are confident that XRP will play a key role in the development of our global financial system,” stated Canary Capital CEO Steven McClurg.
Following the news of the fund’s launch, XRP’s price surged by 3% over 24 hours to $2.4, with a weekly increase of 7%. The asset showed positive momentum despite a downturn in the broader crypto market.
Earlier, on November 10, the American provider of post-trade, clearing, and settlement services in the financial market, DTCC, listed five spot XRP ETFs in the pre-launch stage. Besides Canary’s product, the list includes funds from Bitwise, Franklin Templeton, 21Shares, and CoinShares.