XRP has officially joined the expanding lineup of cryptocurrencies available through spot exchange-traded funds, following bitcoin and ether’s ETF rollout in 2024 and solana’s debut earlier this month.
Canary Capital has launched the first-ever spot XRP ETF, marking a significant expansion of the digital asset ETF market beyond the sector’s largest tokens. The fund, listed on Nasdaq under the ticker XRPC, offers direct exposure to XRP’s market price and opens new access channels for traditional investors.
XRP traded near $2.46 on Thursday, posting a modest 24-hour gain and climbing 7.8% over the past week, outperforming most of the major crypto assets during the same period.
XRPC operates under the Investment Company Act of 1940, a regulatory framework that requires strict oversight and the use of a qualified custodian to manage the underlying XRP reserves. Canary Capital beat other issuers — including Bitwise, Franklin Templeton and 21Shares — in securing the first launch slot for a spot XRP product.
“XRP is one of the most established and widely used digital assets in the world. Providing access through an ETF paves the way for broader adoption and continued growth of a key blockchain ecosystem,” said Steven McClurg, CEO of Canary Capital. “We believe XRP will play an increasingly important role in the modernization of the global financial system.”
The ETF enables retail and institutional investors to gain XRP exposure and benefit from network-driven rewards without directly handling or safeguarding crypto assets. While XRP relies on a consensus protocol distinct from proof-of-stake networks like Ethereum or Solana, the fund incorporates yield-style features tied to blockchain activity — placing XRPC within a rising class of ETFs that combine income potential with digital asset exposure.
The launch marks another step in the ongoing evolution of crypto investment products, as issuers and regulators explore new ways to integrate blockchain-native features such as staking-like rewards into regulated vehicles built for mainstream market participation.
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