صندوق قابل معامله در بورس XRP با ۵۸ میلیون دلار معامله در روز اول، قدرتمندترین آغاز سال را ثبت کرد.
Canary Capital’s spot XRP ETF (XRPC) opened with $58 million in first-day trading volume, the strongest debut of any exchange-traded fund launched this year, even as crypto prices extended losses.
Days after filing its pre-launch registration with the SEC, the fund began trading and immediately attracted heavier-than-expected flows and surpassed Bitwise’s Solana ETF (SOLC), which recorded $56.5 million in first-day volume.
XRPC is the first spot XRP fund in the U.S. and is listed on the Cboe BZX exchange. The fund’s debut volume also cleared early analyst forecasts, which had pegged the fund to open with $20 million to $30 million in volume.
Part of the volume came from liquidity providers and traders moving on brief pricing gaps, a source familiar with the matter told Decrypt.
“The volume was a bit of a surprise, but a lot of it was market makers and arbitrage traders,” the source said, requesting anonymity to speak freely. “The ETF traded at a premium for most of the day, so there was a lot of activity to close that gap.”
XRPC is one of several single-asset crypto ETFs launched this year, as asset managers look to capitalize on investor demand for exposure to digital assets beyond Bitcoin and Ethereum.
Canary Capital’s XRP fund is the first to track the price of XRP, the cryptocurrency associated with Ripple. The fund’s launch comes as the SEC continues its legal battle with Ripple over whether XRP is a security.
Despite the legal uncertainty, the fund’s strong debut suggests there is investor appetite for XRP exposure through a regulated product.
“The volume shows that there is demand for XRP, and that investors are willing to look past the regulatory overhang,” the source said.
The fund’s debut also comes as crypto prices have extended losses, with Bitcoin falling below $60,000 and Ethereum dropping below $3,000.
Despite the market downturn, the fund’s strong debut suggests that investor interest in crypto ETFs remains strong.
“The volume is a positive sign for the ETF space, and it shows that there is still demand for crypto exposure, even in a down market,” the source said.
The benchmark figure was first noted by Bloomberg senior ETF analyst Eric Balchunas, who tweeted Thursday, citing Bloomberg data, that Canary’s ETF “barely” edged out Bitwise’s Solana staking ETF, which drew $57 million when it listed late last month.
The scale of the flows was unexpected. Balchunas initially projected around $17 million for XRPC, yet the fund cleared that within half an hour and closed the session as the year’s top debut.
Canary’s XRP ETF closed its debut session at $24.55, down 7.8% after a volatile first day, according to Barchart data.
XRPC’s debut performance came as broader crypto markets spent the day in the red, down 3.5% in market capitalization terms to $3.43 trillion, per CoinGecko
بیتکوین ۳.۴ درصد کاهش یافت و اتر نیز با کاهش ۶.۷ درصدی همراه شد. سولانا حدود ۵ درصد در روز کاهش یافت و به ۱۴۵ دلار رسید و بخشی از رشد خود را که مرتبط با راهاندازی قبلی BSOL بود، از دست داد.
تحلیلگران میگویند اندازه این عرضه اولیه نشاندهنده تقاضای قوی برای مواجهه با ارزهای دیجیتال خارج از مجموعه تثبیتشده بیتکوین و اتر است.
“مین جانگ”، تحلیلگر ارشد شرکت معاملاتی کمیّتی پرستو، به دیکریپت گفت: «XRP یکی از قویترین و پایدارترین جوامع خرد در حوزه رمزنگاری را دارد، سطحی از طرفداری که سنجش آن دشوار است اما در گذشته به فعالیت معاملاتی بیش از حد معمول whenever محصولات جدید راهاندازی میشوند، منجر شده است.»
جانگ گفت: XRP همچنان «یکی از شناختهشدهترین داراییهای رمزنگاری در بین سرمایهگذاران روزمره است که به طور طبیعی آگاهی و مشارکت روز اول را افزایش میدهد.» وی افزود: «در سمت نهادی، تقاضای فشرده واضحی برای مواجهه مطابق با مقررات با XRP پس از پیروزیهای نظری ریپل و اجماع رو به رشد در مورد وضعیت غیرامنیتی XRP وجود داشته است.»
Professional investors who “previously sat on the sidelines are now comfortable accessing the asset through a regulated wrapper,” with that shift likely helping “amplify” the debut activity, Jung noted.
Still, Thursday’s XRPC session “appears to be a mix“ despite “organic demand” given “XRP’s retail footprint and renewed institutional comfort.”
A “meaningful portion” of the flow also came “from liquidity providers managing creation/redemption baskets and traders capturing short-lived premiums or discounts versus spot,” Jung said.
The key test would be for what follows beyond how XRPC became a “clean entry point” for investors, filling “a pool of demand” that they couldn’t participate in before, Lawrence Samantha, CEO of crypto investment app NOBI, told Decrypt.
If XRPC “continues to see steady inflows and creations,” it could be a “strong sign” for how “institutions are treating this as a long-term allocation,” Samantha said, adding that should the flows cool off, it could mean “market-makers might be what dominated the early volume.”
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.