{"id":507125,"date":"2025-11-13T17:29:08","date_gmt":"2025-11-13T17:29:08","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=507125"},"modified":"2025-11-13T19:28:28","modified_gmt":"2025-11-13T19:28:28","slug":"first-spot-xrp-etf-is-live-recording-36m-volume-on-debut-challenges-bsol-record","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/first-spot-xrp-etf-is-live-recording-36m-volume-on-debut-challenges-bsol-record\/","title":{"rendered":"First spot XRP ETF is LIVE: Recording $36M volume on debut, challenges BSOL record"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/companies\/canary-capital\/\">Canary Capital's<\/a> spot XRP ETF surpassed $36 million in trading volume within its first three hours on Nov. 13, positioning the fund as a contender for the strongest exchange-traded fund debut of 2025.<\/p>\n<p>The XRPC traded at $25.74 as of 4:43 P.M. UTC, generating volume equivalent to 63% of <a href=\"https:\/\/cryptoslate.com\/companies\/bitwise\/\">Bitwise's<\/a> Solana ETF (BSOL) first-day performance, which is the current 2025 benchmark among more than 850 fund launches.<\/p>\n<p>Bloomberg senior ETF analyst <a href=\"https:\/\/cryptoslate.com\/people\/eric-balchunas\/\">Eric Balchunas<\/a> projected the fund would &#8220;blow away&#8221; his <a href=\"https:\/\/x.com\/EricBalchunas\/status\/1988988049045553202?s=20\">initial $17 million estimate<\/a> and potentially surpass BSOL's $57 million opening-day record.<\/p>\n<p><a href=\"https:\/\/cryptoslate.com\/coins\/xrp\/\">XRP<\/a> climbed 3.3% to $2.41 in the 24 hours surrounding the launch while <a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a> and <a href=\"https:\/\/cryptoslate.com\/coins\/solana\/\">Solana<\/a> declined 1.4% and 1.3%, respectively.<\/p>\n<p>The divergence suggests concentrated buying interest tied to the new investment vehicle rather than broader market momentum.<\/p>\n<p>Canary Capital framed its product around XRP Ledger's technical architecture, <a href=\"https:\/\/x.com\/CanaryFunds\/status\/1988961258729599256?s=20\">stating<\/a> on <a href=\"https:\/\/cryptoslate.com\/companies\/x\/\">X<\/a> that the network &#8220;represents a leading framework for global payments, purpose-built for interoperability and real-world settlement.&#8221;<\/p>\n<p>The positioning emphasizes payment infrastructure over speculative trading, aligning with <a href=\"https:\/\/cryptoslate.com\/companies\/ripple\/\">Ripple's<\/a> long-standing narrative around enterprise adoption.<\/p>\n<h2>Regulatory context frames launch significance<\/h2>\n<p>The fund's approval carries weight beyond its trading metrics. The Securities and Exchange Commission maintained active litigation against Ripple Labs for five years before settling three months ago.<\/p>\n<p>Following the decision, XRPC is the first XRP public spot investment product registered under the Securities Act of 1933.<\/p>\n<p>NovaDius Wealth president Nate Geraci stated on Nov. 2 that the launch <a href=\"https:\/\/x.com\/NateGeraci\/status\/1988427134889848937?s=20\">represents<\/a> &#8220;the final nail in the coffin of previous anti-crypto regulators.&#8221;<\/p>\n<p>On Nov. 11, he <a href=\"https:\/\/x.com\/NateGeraci\/status\/1988427134889848937?s=20\">noted<\/a> the SEC appealed a court ruling that XRP did not constitute a security just one year prior. Geraci stated:<\/p>\n<blockquote><p>&#8220;Hard to describe crypto regulatory shift over past year. Night & day.&#8221;<\/p><\/blockquote>\n<p>Additionally, he predicted on Oct. 29 that the fund <a href=\"https:\/\/x.com\/NateGeraci\/status\/1983678825373552977?s=20\">would &#8220;easily become&#8221;<\/a> a billion-dollar product within months, with &#8220;flows dramatically exceeding what people are expecting.&#8221;<\/p>\n<p>Regarding inflows, experts predicted in September that XRP ETFs would <a href=\"https:\/\/cryptoslate.com\/xrp-spot-etfs-projected-to-draw-8-billion-inflow-in-first-trading-year\/\">capture $8 billion<\/a> in their first year of trading.<\/p>\n<p>The launch tests whether institutional demand for XRP exists, despite the SEC's years of creating a scenario of legal uncertainty for Ripple, which only recently started to change.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canary Capital&#8217;s spot XRP ETF surpassed $36 million in trading volume within its first three hours on Nov. 13, positioning the fund as a contender for the strongest exchange-traded fund debut of 2025. The XRPC traded at $25.74 as of 4:43 P.M. UTC, generating volume equivalent to 63% of Bitwise&#8217;s Solana ETF (BSOL) first-day performance, [&hellip;]<\/p>\n","protected":false},"author":1511,"featured_media":507144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,78665,77968],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>First spot XRP ETF is LIVE: Recording $36M volume on debut, challenges BSOL record<\/title>\n<meta name=\"description\" content=\"Canary Capital&#039;s XRPC surpassed $36 million, and analysts see the ETF potentially surpassing BSOL&#039;s $57 million opening-day record.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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