Canary Capital launches its first XRP spot ETF on Nasdaq.
On Thursday of this week, a new ticker appeared on the Nasdaq screens: XRPCBehind those four letters lies a financial milestone for the digital asset sector. Canary Capital officially launched its first cash ETF (exchange-traded fund) for XRP, the native cryptocurrency of the XRP Ledger network.
For an investor in the United States, this means that, for the first time, they can gain direct exposure to the price of XRP by buying a traditional stock, from their usual brokerage account.
The launch of this new crypto investment fund, which materialized after certification and approval by Nasdaq, marks the culmination of a closely watched regulatory process. Canary Capital used the SEC's guidance This allows cryptocurrency ETF applications (Form S-1) to be activated without delay if they meet the new generic listing standards. The firm completed the final requirement, a Form 8-A, earlier this week, clearing the way for the fund's debut on Thursday.
A new channel for institutional capital into crypto
Canary Capital's XRPC fund is positioned as the first 100% spot investor to enter a market that is rapidly showing signs of consolidation. Large asset managers with a strong presence on Wall Street, such as Bitwise, 21Shares, WisdomTree and GrayscaleThey are also moving forward with their own XRP ETF proposals, some of which are already in advanced stages of review.
Despite volatility and recent price corrections in cryptocurrencies, major financial institutions continue to invest in infrastructure that connects the traditional world with digital assets. A cash ETF, like the one launched by Canary Capital, represents the strongest link between these two worlds, as it implies that the fund Acquire and hold real XRP at a 1:1 ratiothus ensuring a strong correlation between the value of the ETF and the underlying cryptocurrency.
Therefore, it is important to distinguish this new product from other previous launches. For example, in September, REX Shares introduced a fund linked to XRP, the REX-Osprey XRP ETFHowever, as this media outlet reported, it was not a completely “pure” spot product, as it was presented under a different legal structure.
The launch of XRPC is therefore the clearest sign yet that institutional demand for exposure to XRP is real. Canary Capital and the other asset management firms are not only seeking to satisfy their clients' curiosity, but are strategically betting that the asset has a fundamental use case that will justify its long-term value. For the retail investor, this translates into greater liquidity, a more transparent price discovery mechanism, and, above all, a seal of approval from the world's largest stock exchange.
Beyond the ETF: What is XRP and the XRP Ledger?
To understand XRP's current state, it's important to recognize what sets it apart within the vast universe of cryptocurrencies. Unlike Bitcoin, which has become a store of value or digital gold, or Ethereum, designed to host decentralized applications with endless possibilities, XRP has a clear and practical focus: la efficiency in value transfers.
XRP is the native cryptocurrency of XRP Ledger (XRPL), a blockchain designed to settle payments almost instantly and at an extremely low cost. Thus, while an international bank transfer can take days and be subject to multiple fees, XRPL aims to make sending value—whether tokenized dollars, euros, or yen—as fast and cheap as sending an email.
Ripple uses this network and the XRP asset for its cross-border payment services, helping financial institutions move money around the world without the need for pre-funded "nosotro" accounts.
In a publication in X, Canary Capital stressed XRP is often seen as the "Asset bridge" that connects traditional finance and digital liquidity.
However, despite its innovative approach to payments, part of what had hindered XRP's adoption was a lengthy legal battle with the SEC, though a key turning point occurred this year when that battle finally ended. This regulatory clarity is largely what has allowed ETF applications like Canary Capital's to move forward.
New doors are opening for XRP and other digital assets
Canary Capital's launch of the XRPC ETF on Nasdaq isn't just news for XRP holders; it's a game-changer for market expectations. It sets a precedent that could pave the way for other similar funds, and industry sources are already suggesting that Dogecoin ETFs could be next.
The launch of this ETF represents a significant step toward reducing the technical and regulatory barriers that have historically hindered access to Ripple's cryptocurrency. This easier access points to greater institutional participation, which could significantly boost its value and liquidity.
At the time of writing, XRP is registering a weekly growth of 3,5%, trading around $2,25Some analysts suggest that, should institutional interest solidify and these ETFs attract significant capital inflows, the price could climb to $4 or more. However, these projections coexist with the current market uncertainty, demonstrating that, while the opportunities are promising, the path ahead still carries risks and unknowns.
