Українська
Русский
English
XRP-Based ETF Sets Record for First-Day Trading Volume
On its first day, the XRP-based ETF (XRP) from Canary Capital set a record for trading volume.
During the first trading session after its listing, the Canary XRP ETF (XRPC) on the Nasdaq exchange reached a turnover of $58 million, surpassing all other exchange-traded funds launched in the U.S. in 2025. XRPC even managed to outperform the Bitwise Solana ETF (BSOL), whose first-day trading volume amounted to $57 million.
However, aside from the high turnover, the Canary XRP ETF has little to boast about for now, as the fund’s shares fell by 7.8% due to a drop in XRP’s price. The cryptocurrency's price has been declining within a bearish trend that began in July, accompanied by a downward trajectory seen across the digital asset market.
ETF analyst Eric Balchunas was surprised by the interest shown in the derivative. He predicted that the trading volume of the Canary XRP ETF would not exceed $17 million after its debut. The expert was mistaken, having underestimated the activity of retail investors in the XRP market. However, this is unlikely to protect the coin’s price from falling. Judging by the downward channel formed on the chart, the cryptocurrency’s value will drop to $1.94 before the next correction. As a result, XRPC shares will decline even further.
See also: "Cardano Cryptocurrency Drops 10% in Bearish Reversal Trading"
