XRP Joins ETF Market as Canary Capital Debuts First U.S. Spot Fund

After Bitcoin, ether, and Solana, XRP has officially joined the exchange-traded fund universe. Canary Capital’s launch of the first U.S. spot XRP ETF gives investors direct exposure to the token behind Ripple’s payment network — without the need to manage crypto wallets or exchanges.

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Canary Capital’s fund, trading under the ticker XRPC on the Nasdaq, is the first U.S.-listed product offering spot exposure to XRP. The move follows the firm’s refiled application under the Investment Company Act of 1940, which requires strict custodial oversight of underlying crypto assets.

Notably, the announcement is yet to boost the price of XRP token, which is down 0.35% in the past day, but up more than 5% in the weekly chart, according to CoinMarketCap.

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A New Chapter for Crypto ETFs

“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 Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term system,” says Steven McClurg, the CEO of Canary Capital commented.

The XRPC fund allows investors to access XRP through standard brokerage accounts, offering a simplified entry point for exposure to the asset’s price and yield features.

Introducing XRPC — the Canary XRP ETF

- Provides exposure to the native token of the XRP Ledger
- Built to reflect network performance across payments and liquidity protocols
- Backed by XRP’s established utility in cross-border value transfer
- Designed for efficiency, speed,… pic.twitter.com/8G0GRpcTgg

— Canary Capital (@CanaryFunds) November 13, 2025

Unlike proof-of-stake tokens such as Ethereum or Solana, XRP operates on its own consensus mechanism. Yet the ETF incorporates yield characteristics linked to the blockchain’s transaction activity — a design that blends income potential with spot exposure.

The XRP price has edged higher in recent days, trading around $2.46, up nearly 8% over the past week, outperforming most major cryptocurrencies.

From Payments Network to Investment Vehicle

Originally designed to facilitate fast and inexpensive cross-border transactions, XRP powers the XRP Ledger (XRPL) — a system capable of handling thousands of transactions per second. The network settles payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term in seconds and has operated reliably since 2012, with minimal energy use and low fees.

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“We believe XRP will play a key role in the evolution of our global financial system,” added McClurg. “It’s a bridge between traditional finance and the blockchain economy, built for scale, and real enterprise utility. XRPC allows investors to participate in the prospects of that evolution.”

Canary Capital’s launch follows filings from other major asset managers, including Bitwise, Franklin Templeton, and 21Shares, signaling deepening competition in the crypto ETF space.

As the market matures, the arrival of an XRP spot ETF highlights the growing demand for digital assets with real-world applications and the push to make them accessible within traditional financial frameworks.