The Canary XRP ETF (XRPC) made a standout entrance into the market, recording $59 million in trading volume and an impressive $245 million in net inflows on its first day. Its debut outperformed both the Solana ETF and several spot Bitcoin ETFs, even as XRP’s price declined more than 8%.
Canary XRP ETF Posts Record-Breaking $245 Million Inflows
On November 14, Canary Capital announced that the XRPC ETF broke multiple ETF-launch records. The product recorded $59 million in day-one trading volume and $245 million in inflows, marking the strongest first day among more than 900 ETFs launched in 2025.
According to Bloomberg ETF analyst James Seyffart, XRPC also exceeded the $57 million day-one volume set by the Bitwise Solana Staking ETF (BSOL). He noted that achieving this on a red market day made the milestone even more notable. Bloomberg’s Eric Balchunas also highlighted the strong early momentum, reporting $26 million in volume within the first 30 minutes and predicting it would easily beat his initial $17 million estimate.
Canary Capital CEO Reacts to Strong Demand
Steven McClurg, CEO of Canary Capital, praised the ETF’s explosive debut. The XRPC ETF’s inflows surpassed all spot Bitcoin ETFs on the same day, including BlackRock’s IBIT with $111.7 million and Bitwise’s BITB with $237.9 million.
McClurg also clarified the difference between inflow numbers and trading volume, noting that “in-kind creations don’t show up in trading volume.”
His earlier prediction that XRP demand would exceed Solana ETF inflows proved accurate, supported by XRP’s large market cap and strong liquidity.
XRP Price Drops Despite ETF Milestone
While the ETF launch attracted heavy investment, XRP’s price still fell 8% in 24 hours, currently trading around $2.30. Its daily range hit a low of $2.28 and a high of $2.52. Trading volume jumped more than 40%, showing increased activity among traders.
XRP futures open interest also slipped:
- Total OI fell 3% to $3.71 billion
- CME futures OI dropped over 6%
- Binance futures OI declined 5%
- 4-hour OI slid another 1.22%
Solana (SOL) also saw a decline, trading at $143.56, down 8% with a daily range between $141.40 and $156.99.
