Canary Capital's XRP ETF Breaks Records with Massive Inflows and Trading Volume

By: Eliza Bennet

Canary Capital's debut of the XRP exchange-traded fund (ETF) has captured the attention of both crypto and traditional investors with its record-breaking launch. On its first trading day, the spot XRP ETF, which began trading on the Nasdaq, saw a staggering $58 million in trading volume. This makes it the most successful debut out of the more than 900 ETFs launched in 2025, surpassing initial projections by industry experts.

The launch signifies a renewed interest in altcoins, with institutions showing strong demand despite broader market uncertainties. Canary Capital's ETF closed its first day with over $250 million in inflows, outpacing other crypto ETFs significantly. Experts had anticipated volumes ranging from $15 to $35 million, yet the actual figures far exceeded these expectations.

The fund's exceptional start comes after overcoming the latest regulatory hurdles, including the necessary filings with the US Securities and Exchange Commission (SEC). This regulatory clarity is pivotal, especially with the global utility and liquidity potential of XRP as highlighted by Canary Capital’s CEO, Steven McClur. The introduction of the XRP ETF could pave the way for substantial institutional investments, possibly driving XRP prices higher over the long term.

The impressive debut of the XRP ETF could signal a potential bullish period for XRP, with market analysts suggesting that prices could see significant gains. Projected long-term price targets hint at a possible advance towards $10 to $37, considering XRP trades at approximately $2.30 currently. This ETF launch, therefore, represents a noteworthy milestone, reflecting a broader trend of increasing acceptance and adoption of cryptocurrency investment vehicles by institutional players.