Canary's XRP ETF sees record volume and inflows on its debut

• XRPC recorded $58.5 million in its first-day trading volume, the highest among 900 ETFs launched in 2025.
• The products attracted $245 million in net inflows.
• XRP is down 4% despite the impressive first-day results from Canary's XRPC.

Global asset manager Canary Capital reached a milestone on Thursday, as its XRPC ETF clocked $59.1 million in trading volume on its debut, according to Bloomberg analyst Eric Balchunas and James Seyffart. This places it at the top for first-day trading volume among 900 ETFs launched so far in 2025.

XRPC claimed the record by edging out the Bitwise Solana ETF (BSOL), which posted $57 million in first-day volume. Coupled with in-kind creations, which aren't reflected in trading volume, the product recorded $245 million in net inflows on day one.

"Congrats to XRPC for [$59m] in Day One volume, the most of any ETF launched this year (out of 900), BARELY edging out BSOL's $57m. The two of them are in league of own tho as 3rd place is over $20m away," wrote Balchunas in a Thursday X post.

Canary's XRPC debuted as the first spot XRP ETF under the popular 1933 Act framework after it filed a Form 8-A with the Securities and Exchange Commission (SEC) and received Nasdaq certification earlier in the week.

REX Osprey had debuted a spot XRP ETF in September under the 1940 Act framework, which allowed the asset manager to fast-track its launch. Although the product is somewhat of a hybrid, as it invests in other related instruments alongside its spot XRP holdings.

XRPC's success paves the way for other upcoming XRP ETFs

With Canary XRPC's successful debut, attention has turned to XRP ETF filings from other asset managers, including Bitwise, WisdomTree, Franklin Templeton and CoinShares. Market experts note that the launches of these products are now almost guaranteed when government agencies resume operation.

The rising wave of altcoin ETF activity in recent months follows progress in crypto-friendly regulations under President Trump and SEC Chair Paul Atkins.

Despite the impressive inflows seen on XRPC's debut, XRP saw a 4% decline over the past 24 hours, following a general crypto market pullback on Thursday.