XRP has become the latest major cryptocurrency to receive a spot exchange-traded fund, joining bitcoin, ether and, more recently, solana in the expanding roster of regulated digital asset investment products.
Canary Capital on Thursday introduced the first spot XRP ETF to the market, broadening investor access to the token through traditional financial infrastructure. The fund, listed on Nasdaq under the ticker XRPC, provides direct exposure to XRP’s price movements while maintaining the safeguards required under the Investment Company Act of 1940. This regulatory structure mandates strict custody rules, including the use of a qualified custodian for all underlying assets.
XRP has shown relative strength heading into the launch. The token traded around $2.46, with modest daily gains but a stronger 7.8% advance over the past week, outperforming most large-cap cryptocurrencies.
The debut of XRPC places Canary Capital ahead of several competitors — including Bitwise, Franklin Templeton, and 21Shares — all of which had filed paperwork for their own spot XRP funds. Canary’s quicker path to approval has made it the first issuer to bring an XRP ETF to market.
“XRP is one of the most established and widely utilized digital assets globally,” said Steven McClurg, CEO of Canary Capital. “Making XRP accessible through an ETF will open the door to the next phase of adoption and help support the continued expansion of a critical blockchain ecosystem. We see XRP as an important component of the future financial landscape.”
Beyond simple price exposure, the new ETF incorporates features linked to blockchain activity and on-network incentives. Although XRP uses a consensus mechanism distinct from the proof-of-stake systems behind Ethereum or Solana, the fund is structured to include rewards generated through network participation — situating XRPC within an emerging class of yield-enabled digital asset ETFs.
The launch underscores the ongoing evolution of crypto-native financial products. As regulators and issuers experiment with new frameworks, the market is witnessing a gradual shift from basic spot exposure toward more advanced funds that package income opportunities, blockchain utility, and regulated access under one investment wrapper.
