Regulatory approval for a spot XRP ETF led to trading starting on November 13, marking a milestone for investor access to Ripple’s digital asset.
The Canary Capital spot XRP ETF opened with $58 million in trading volume, the highest for any ETF launched this year so far.
XRP, launched by Ripple in 2012, remains one of the oldest and most widely used cryptocurrencies.
It was valued at $139 billion, ranking as the fourth-largest coin by market cap as of November 14.
Over the last six months, XRP declined about 10%, lagging behind Bitcoin and Ethereum.
Yet investors welcomed the opening of the spot ETF, which could support longer-term growth by attracting institutional capital.
The first spot XRP ETF is here after months of waiting, opening on November 13 with robust activity.
Spot ETFs provide direct exposure to XRP, enabling institutional investors such as hedge funds to participate, while retail investors can gain XRP exposure through retirement accounts like IRAs and Roth IRAs.
ETF approval creates more avenues for investment to flow into cryptocurrencies.
Bitcoin ETFs have seen inflows of $59 billion, and Ethereum ETFs have attracted $13 billion, highlighting the liquidity potential of regulated crypto products.
ETF approval may not immediately push XRP higher amid current market softness, but it could improve XRP’s long-term prospects by attracting institutional investors.
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