The spot XRP exchange-traded fund (ETF) launched in the United States has accumulated 318 million XRP in less than three weeks, valued at approximately $648 million based on current market prices. The funds included are Canary Capital, Bitwise, Grayscale, and Franklin Templeton, along with the REX-Osprey fund, bringing the total managed assets of U.S. XRP ETFs to over $775 million.
Canary Capital's XRPC ETF leads with nearly $347 million in managed assets and sets a record for the highest first-day trading volume of any U.S. ETF launched in 2025. Canary CEO Steven McClurg stated that this strong debut demonstrates significant interest from institutional investors in regulated XRP investment vehicles, and believes that investors prefer to hold XRP through an ETF without the need to manage wallets themselves. The XRPC ETF provides security services through institutional-grade custody while tracking the price of the native token on the XRP Ledger.
Despite the recent drop in XRP price to around 2 dollars, below the expected level at the beginning of 2025, ETF assets continue to grow. Analysts point out that excessive leverage and news-driven sell-offs may lead to short-term price fluctuations, while the launch of ETFs proves that institutional demand remains strong. For example, after the Canary ETF was listed in mid-November, XRP experienced a short-term decline, and the Bitwise ETF also saw a surge in trading volume during its initial listing.
The success of the XRP ETF is a reflection of the overall expansion of the crypto ETF market. Fund managers are planning to launch more products based on Solana, Dogecoin, HBAR, and Litecoin, and Grayscale is also expected to launch a Spot Chainlink (LINK) ETF. Although XRP has underperformed this year, the influx of funds and institutional activity indicate that there is still strong demand from investors to hold altcoins through regulated channels. Ripple Labs is also continuously advancing cross-border payment technology, keeping XRP in a key position in the payment settlement sector.
Institutional investors' interest in the Spot XRP ETF continues to heat up, even as the market undergoes high volatility adjustments; the ETF is still regarded as a safe and convenient investment channel.
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