XRP ETF Records $26M Volume in First 30 Minutes, Surpassing Analyst Expectations

XRP ETF Sees $26M in Opening Volume During First 30 Minutes of Trading

The first-ever U.S.-listed spot XRP ETF recorded $26 million in trading volume within just the first 30 minutes of trading, signaling stronger-than-expected investor enthusiasm.

The Canary XRP ETF, which officially launched today on November 13, quickly attracted significant market attention. Managed by Canary Capital and trading under the ticker XRPC, the fund surpassed analyst expectations almost immediately after opening.

Shortly after the debut, Bloomberg ETF analyst Eric Balchunas highlighted that the ETF exceeded its $17 million volume target in less than an hour. Balchunas also noted that XRPC appears well-positioned to potentially surpass the first-day performance of BSOL, which recorded $57 million in initial trading volume.

Early Demand Outpaces Altcoin ETF Benchmarks

Although $26 million may seem small when compared to the launch-day volumes of Bitcoin (BTC) and Ethereum (ETH) ETFs, it is significantly higher than most altcoin ETF debuts.

For example, the Litecoin (LTC) spot ETF registered only $1 million in trading volume on its first day of trading on September 18. In contrast, the XRPC ETF hit 26 times that volume within just half an hour.

For broader context, nine Ethereum spot ETFs collectively generated $1 billion in trading volume on their July 2024 launch day — demonstrating the strong interest in major crypto assets while highlighting the impressive performance of XRP within the altcoin ETF category.