Canary Capital Launches Spot XRP ETF with Real Token Holdings

• Canary Capital leads with XRPC, a spot ETF holding actual XRP tokens for transparent ownership.

• Form 8-A filing accelerates potential Nasdaq listing, following updates from issuers like Bitwise and 21Shares.

• XRPC benchmarks to CoinDesk’s XRP CCIX rate, with custody by Gemini Trust and BitGo, starting at $25 NAV and $5.25 million in assets.

Explore the Canary XRP ETF launch: first U.S. spot XRP ETF for direct exposure. Key details on structure, custody, and market impact. Invest wisely in XRP’s payments ecosystem today.

The asset manager enters the XRP ETF race with a trust that holds real XRP tokens as market expectations build for a Nasdaq debut.

What is the XRP ETF?

The XRP ETF, specifically the Canary XRP ETF (XRPC), is a spot exchange-traded fund that offers investors direct ownership of XRP, the native token of the XRP Ledger. Launched by Canary Capital, it operates as a grantor trust holding actual XRP tokens, similar to spot Bitcoin ETFs approved earlier. This structure provides a regulated way for traditional investors to gain exposure to XRP’s value without managing digital assets directly, addressing long-standing demand for such products in the U.S. market.

How does the Canary XRP ETF structure provide direct XRP exposure?

The Canary XRP ETF is designed for simplicity and security, holding real XRP tokens in institutional-grade custody provided by Gemini Trust and BitGo Trust. U.S. Bank manages cash custody and administration, ensuring compliance with regulatory standards. The fund’s net asset value is calculated using the CoinDesk XRP CCIX New York Rate, a reliable 60-minute time-weighted average price that captures liquidity from major exchanges, offering accurate tracking of XRP’s market performance. Shares are issued and redeemed in 10,000-share baskets, allowing authorized participants to exchange cash or XRP, which minimizes tracking errors and supports efficient liquidity. This setup, not registered under the Investment Company Act of 1940, aligns it closely with the successful model of spot Bitcoin ETFs, providing investors with a familiar entry point into XRP’s ecosystem.

Canary Capital emphasizes XRP’s utility in cross-border settlements, positioning the ETF as a bridge between traditional finance and blockchain technology. By avoiding futures or synthetic instruments, XRPC delivers unadulterated price exposure, backed by XRP’s established role in payments protocols. Industry experts, such as those from financial analysis firms, note that this direct holding model reduces counterparty risks, a key concern for institutional adopters. Data from market trackers shows XRP’s trading volume surged 53% around the launch, reflecting heightened interest in regulated access.

Frequently Asked Questions

What is the ticker symbol and launch details for the first spot XRP ETF?

The Canary XRP ETF trades under the ticker XRPC on the CBOE exchange, with inception on November 13, 2025. It starts with an initial NAV of $25.00 and net assets of $5.25 million, featuring a sponsor fee of 0.50%. Custody is handled by BitGo Trust and Gemini Trust for digital assets.

How might the launch of a spot XRP ETF impact XRP’s market price and adoption?

The introduction of a spot XRP ETF like XRPC could boost XRP’s price by attracting institutional capital and improving liquidity in regulated markets. As XRP traded around $2.40 to $2.45 pre-launch with significant volume increases, this product simplifies access for traditional investors, potentially driving broader adoption in cross-border payments. Financial analysts anticipate sustained interest, given XRP’s enterprise focus, though market volatility remains a factor.

Key Takeaways

• Direct Exposure Model: XRPC holds real XRP tokens in secure custody, mirroring spot Bitcoin ETF structures for reliable price tracking.
• Regulatory Alignment: Structured as a grantor trust, it navigates SEC requirements without Investment Company Act registration, paving the way for Nasdaq listing.
• Market Momentum: Launch coincides with rising XRP interest, urging investors to monitor volume and institutional inflows for growth opportunities.

Key Highlights

• Canary introduces XRPC, a spot ETF structured as a grantor trust holding real XRP.
• Form 8-A filing positions the fund for a near-term Nasdaq listing.
• XRPC targets XRP’s market value using CoinDesk’s CCIX benchmark and institutional-grade custody.

Conclusion

The launch of the XRP ETF through Canary Capital’s XRPC represents a pivotal moment for Canary XRP ETF accessibility in the U.S., fulfilling years of anticipation for a regulated vehicle tied to XRP’s cross-border settlement strengths. With robust custody, precise benchmarking, and alignment to proven ETF models, it equips investors to engage with XRP’s evolving role in global payments. As tokenized infrastructure gains traction among financial institutions, XRPC positions XRP for expanded adoption—watch for ongoing developments in this dynamic space.

The race to list the first U.S. spot XRP exchange-traded fund has ended, with Canary Capital taking the lead. Following its Form 8-A filing with the SEC, the firm’s new fund, the Canary XRP ETF (Nasdaq: XRPC), launched today.

The move comes as XRP ETFs shift from speculation to near-term reality. Momentum has accelerated after several issuers, including Bitwise and 21Shares, updated or resubmitted filings this quarter.

XRP’s appeal for issuers is straightforward: it remains one of the few large-cap digital assets with an enterprise-focused use case, low-cost, cross-border settlement, that can be packaged into a regulated investment product.

Canary’s pitch: Direct XRP exposure

While futures-based or synthetic products offer indirect exposure, XRPC is structured as a grantor trust that holds actual XRP tokens in custody. This design mirrors the structure used by U.S. spot Bitcoin ETFs, a format that investors already understand.

U.S. Bank will handle cash custody and administration, while Gemini Trust and BitGo Trust serve as digital asset custodians.

The ETF will benchmark its net asset value to the CoinDesk XRP CCIX New York Rate, a 60-minute time-weighted price reflecting liquidity from major exchanges. Shares are created and redeemed in 10,000-share “Baskets,” enabling authorized participants to deliver cash or XRP directly to the trust.

XRPC enters the market with the following launch metrics:

• Ticker: XRPC
• Exchange: CBOE
• Inception: November 13, 2025
• Sponsor Fee: 0.50%
• Digital Custodians: BitGo Trust, Gemini Trust
• Initial NAV: $25.00
• Net Assets: $5.25 million

The trust is not registered under the Investment Company Act of 1940 and does not operate as a commodity pool, placing it within the same regulatory lane as spot Bitcoin ETFs.

Why XRPC matters for the XRP ecosystem

The launch taps into years of anticipation for a regulated XRP investment vehicle. Industry analysts argue that XRP, despite its long-standing focus on cross-border settlement and banking rails, has been one of the few major assets without a U.S. spot ETF wrapper.

XRPC also arrives as interest in tokenized settlement infrastructure is rising. The XRP Ledger, marketed by Canary as a “framework for global payments”, has seen renewed enterprise attention as financial institutions test blockchain-enabled value transfer.

Market reaction to ETF launch

Before the ETF’s debut, XRP traded around $2.40–$2.45, with a 53% jump in intraday volume, according to CoinMarketCap.

Investors will be watching how XRPC trades against broader XRP liquidity during volatile periods, whether rival issuers speed up their filings in a repeat of the Bitcoin ETF cluster launch, and how institutions react to an asset with a complex legal past but a long-standing role in payments infrastructure.

Now launched, XRPC is the first U.S. spot XRP ETF, giving traditional markets a clearer way to track XRP’s price.

Also read: Franklin Templeton Nears Launch of Spot XRP ETF

Follow The COINOTAG on Google News to Stay Updated!