Canary Capital to Launch XRP ETF Next Week, Says CEO
Canary Capital’s newly listed U.S. spot XRP ETF on Nasdaq quickly amassed $248 million in assets after a strong second-day inflow, highlighting rising institutional appetite for regulated XRP investment products.
XRP
Summary
According to Canary Capital’s official statement, the Canary XRP ETF (XRPC) began trading on Nasdaq on November 13 with a 0.50% fee, marking the first U.S. spot ETF for XRP. It registered no net inflows on its first trading day but achieved $243 million in net inflows on day two through cash and in-kind creations, bringing total assets under management to $248 million. The firm views the surge as evidence of increasing institutional interest in regulated XRP investment vehicles.
Terms & Concepts
- Spot XRP ETF: An exchange-traded fund that directly tracks the current market price of XRP, offering regulated exposure to the digital asset without holding futures contracts.
- Assets Under Management (AUM): The total market value of the assets an investment fund or financial institution manages on behalf of clients.