The XRP Era Dawns on Wall Street: Canary Capital’s Historic Launch
In a watershed moment for Ripple’s native token and the broader cryptocurrency landscape, Canary Capital’s spot XRP Exchange-Traded Fund (ETF)—trading under the ticker XRPC—has officially commenced trading on the Nasdaq exchange as of November 13, 2025, at market open. This launch, greenlit by Nasdaq’s certification on November 12 following the SEC’s effective registration, positions XRPC as the first-ever U.S.-listed spot ETF dedicated to XRP, granting investors direct, regulated exposure to the asset without the complexities of self-custody or exchange wallets. Priced at an initial $50 per share and tracking the XRP-USD CCIXber Reference Rate Index, XRPC arrives amid XRP’s 300% year-to-date surge to around $2.40, with early trading volumes already exceeding $50 million in the first hour—signaling robust institutional and retail interest.
Canary Capital, a U.S.-based asset manager specializing in digital innovation, filed its S-1 registration in October 2025, navigating a streamlined SEC process under the post-July 2025 crypto ETP guidance that resolved Ripple’s long-standing SEC litigation. The ETF’s debut—following spot approvals for BTC, ETH, SOL, and others—caps a banner year for altcoin products, with XRPC’s 0.50% annual management fee and secure custody via leading providers like Coinbase Custody making it an accessible bridge for traditional investors. As CEO Steven McClurg noted: “We’re excited to go effective with the first single-token spot XRP ETF, bridging traditional finance and blockchain assets.” In a market stabilizing post the U.S. shutdown (total cap $3.57 trillion), XRPC’s launch could unlock $5 billion in inflows within the first month, per McClurg’s forecast, accelerating XRP’s mainstream adoption amid its $141 billion market cap and ISO 20022 alignment for global payments. This article explores the ETF’s mechanics, market implications, and why XRPC could catalyze XRP’s next leg up.
XRPC’s Inner Workings: Structure, Fees, and Accessibility
XRPC is a straightforward spot ETF: It holds physical XRP in custody, tracking its USD price via the CCIXber Reference Rate Index for transparency and accuracy. Shares trade on Nasdaq like any stock, redeemable daily for underlying XRP baskets—ensuring minimal tracking error (projected <0.5%). With a 0.50% expense ratio—competitive against BTC/ETH ETFs’ 0.20-0.25%—and no performance fees, it’s designed for broad appeal.
Key specs:
- Ticker: XRPC
- Exchange: Nasdaq (effective November 12, 2025)
- Initial NAV: ~$50 per share (1 share ≈ 20.83 XRP at $2.40 spot)
- Custodian: Coinbase Custody (SEC-registered, with cold storage emphasis)
- Creation/Redemption: In-kind (authorized participants exchange XRP for shares daily)
- Trading Hours: Standard Nasdaq (9:30 AM – 4:00 PM ET)
Investors access via brokerages like Fidelity or E*Trade—no crypto wallet needed—lowering barriers for the 70% of U.S. adults without exchange accounts. Early volumes hit $50 million in the first hour, with XRP dipping 0.4% to $2.39 amid profit-taking, but RSI at 58 and MACD bullish hints at recovery.
Market Impact: $5B Inflows and XRP’s Path to $5
XRPC’s debut caps a surge in altcoin ETFs—following SOL, LTC, and HBAR launches with $8-50 million first-day volumes—potentially drawing $5 billion in the first month, per McClurg, as XRP’s $141 billion cap (third-largest crypto) attracts diversified flows. This could propel XRP to $5 (108% upside) by Q4, per analysts, unlocking its ISO 20022 compliance for $18 billion annual remittances.
Broader waves:
- Institutional Floodgates: $5B inflows could rival SOL’s ETF debut, boosting XRP’s liquidity (daily volumes $3B+).
- Altcoin Renaissance: Paves way for more (Bitwise, Franklin filings pending), with XRP’s 300% YTD leading alts.
- Price Dynamics: Mild 0.4% dip on news (priced in), but $2.60 odds at 62% on Polymarket signal rebound.
XRP’s SEC saga—resolved August 2025 with dismissed appeals—clears the path, per Nate Geraci: “A big win for Ripple after regulatory bouts.”
X Sentiment: FOMO and Forecasts Light Up Socials
X is ablaze with XRPC hype: @thisisksa’s “JUST IN 🚨: Canary Capital’s Spot $XRP ETF $XRPC has officially begun trading” drew 18 views in minutes. @BSCNews echoed: “🚨UPDATE: CANARY CAPITAL’S SPOT $XRP ETF ($XRPC) OFFICIALLY STARTS TRADING IN THE U.S” (116 views). @uc_yuccie highlighted: “CANARY CAPITAL LAUNCHES FIRST SPOT XRP ETF” with Nasdaq link (42 views). @CherryK888 confirmed: “It’s happening. The Canary Capital Spot XRP ETF (ticker: XRPC) has officially launched” (53 views). @KingAnt: “Just in🔎: Canary Capital Spot XRP ETF XRPC has officially begun trading” (271 views). @fintech_portal quoted CoinDesk’s “🔥 TODAY: Canary Capital’s Spot XRP ETF (ticker: XRPC) has officially begun trading” (181 views). @CoinDesk’s original post exploded with 101 likes and 9,917 views.
Bullish forecasts dominate: $5 Q4 targets, with Polymarket at 62% for $2.60 by December.
The Bigger Picture: XRP’s ETF Milestone and Beyond
XRPC’s trading open caps XRP’s redemption arc—post-SEC win in August 2025, it’s up 300% YTD to $2.40, with $141B cap trailing only BTC/ETH. As the first single-token alt ETF, it could attract $5B inflows, per McClurg, rivaling SOL/LTC debuts and unlocking XRP’s remittances niche ($18B annually). Risks: Tracking error (<0.5%) and regulatory shifts, but XRP’s ISO 20022 edge for payments fortifies it.
XRPC isn’t just an ETF—it’s XRP’s mainstream gateway, potentially to $5 by Q4. In a $3.57T market, this launch lights the fuse. Trade wisely; the XRP rocket has liftoff.