An XRP-based exchange-traded fund (ETF) issued by management company Canary made a strong debut on the U.S. stock market yesterday.
The investment vehicle had a trading volume of $58.5 million on its first day. This diagram makes the instrument look like this: This ETF was launched in 2025 and saw the most activity on its first day.
The XRP ETF narrowly outperformed the Solana (SOL)-backed and Bitwise-managed BSOL ETF, which reached $57 million in its October 28 debut.
Analyst Eric Balchunas said both products were “in a class of their own.” It was more than 20 million points behind the third most active ETF of the year.
In the case of BSOL, trading volume also exceeded initial expectations. Balciunas himself had predicted first-day revenue of $52 million, which was significantly higher than the $56 million the company had recorded, CriptoNoticias reported.
If the XRP ETF continues to generate interest among investors, it could benefit the digital asset’s price. However, despite the investment product’s strong start, the price of the Ripple cryptocurrency reacted with a decline. It fell 8%, from $2.5 to $2.28. This is partly in response to the decline in Bitcoin (BTC), which significantly lost the USD 100,000 mark during the day on November 14th.
