The long-awaited spot XRP ETF has officially begun trading on Nasdaq, marking a historic milestone for both Ripple and the broader crypto market.
On November 13, the Canary Capital spot XRP exchange-traded fund (ETF) tickered XRPC went live, after receiving final certification from Nasdaq on Wednesday.
The launch follows weeks of regulatory approvals, including the SEC’s acceptance of Canary’s Form 8-A filing, which cleared the way for public trading.
A First-of-its-Kind XRP ETF
Unlike futures-based or partially backed funds, the Canary spot XRP ETF will provide direct exposure to XRP’s market price, offering investors a straightforward way to participate in the asset’s performance.
It also differs from previous XRP-linked products. Earlier this year, REX Shares introduced the XRPR ETF, which some observers initially considered the first XRP fund in the U.S.
However, that product was launched under the Investment Company Act of 1940 and holds a mix of assets, including U.S. Treasuries and crypto-related ETFs.
In contrast, the Canary spot XRP ETF is designed as a pure-play product under the Securities Act of 1933, meaning it will hold 100% XRP with no additional asset exposure.
This makes it the first fund of its kind to offer unfiltered access to XRP’s price movements. The fund’s XRP holdings are custodied by Gemini Trust Company and BitGo Trust Company, ensuring secure asset management for institutional investors.
Specifically, the ETF carries a 0.50% annual management fee, making it one of the most cost-efficient crypto funds available to U.S. investors.
The development is a major step forward for XRP adoption in traditional finance as proponents expect it to open the door for greater institutional participation in the Ripple ecosystem.
Notably, the first-ever spot XRP ETF was launched in Brazil.
Community and Market Reactions
Following this positive development, XRP’s price rose about 3% to trade around $2.48, according to CoinMarketCap data. In particular, trading volume surged by more than 30% within the first few hours of the ETF’s debut.
Experts say the product could attract substantial capital inflows in the coming weeks as portfolio managers and retail investors seek regulated exposure to XRP.
With spot Bitcoin ETFs and Ethereum ETFs already performing well since their own launches, the XRP listing is being viewed as the next big step in mainstream crypto adoption.
Reacting to the development, Canary Capital CEO Steven McClurg said, “XRP is one of the most established and widely used digital assets in the world; accessibility to XRP through an ETF will enable the next wave of adoption and growth in a critical blockchain system.”
“We believe XRP will play a key role in the evolution of our global financial system,” he added.
What’s Next for XRP?
Many crypto analysts predict the new ETF could help stabilize XRP’s price over time and drive more liquidity to the market. If demand grows steadily, the fund could inspire similar ETF applications from other issuers.
For the XRP community, the Nasdaq debut of the XRPC ETF represents a regulatory success, while also signaling that XRP is gaining deeper adoption.
At press time, XRP trades around $2.29 and is down by 3.6% in the past 24 hours. Traders are watching closely for how the U.S. spot XRP ETF debut, coupled with the rare Ichimoku signal, might influence market demand in the days ahead.
