The first U.S. spot XRP ETF drew nearly $250 million in inflows and $58 million in first-day trading before sliding from $24.55 to $11.57.
Canary XRP ETF (XRPC), the first U.S. spot XRP ETF, is down by more than 50% since its November 13, 2025 launch, turning a $1,000 investment at inception into about $471 based on Friday's close. The fund debuted with nearly $250 million in inflows and $58 million in first-day trading volume, making it the strongest ETF launch of 2025, but it later fell from its $24.55 launch price to $11.57 after a prolonged decline that at one point exceeded 56%. The fund was built to give investors regulated exposure to XRP by holding the token directly in custody, but its performance has mirrored XRP's weakness amid broader market uncertainty, weaker risk appetite and post-launch profit-taking. Competing products from Bitwise, Grayscale, Franklin Templeton and 21Shares followed, underscoring broader institutional interest in XRP-linked vehicles even as price volatility remained a central risk.