The long-awaited first Spot XRP ETF in the United States officially launches today on the capital markets. The asset management firm Canary Capital is the pioneer of this milestone. Their fund will trade on the Nasdaq exchange under the ticker symbol $XRPC. Confirmation came from analyst Eric Balchunas, who shared the official Nasdaq listing notice.
This launch is a key milestone for institutional adoption. Unlike other existing products, Canary’s fund is 100% backed by physical XRP reserves. This offers investors direct and pure exposure to the digital asset. On the other hand, a hybrid XRP ETF (managed by REX-Osprey) already exists. That fund, which partially invests in futures, attracted $131 million in assets just months after its debut.
Could this regulatory milestone be the catalyst for a new all-time high?
The approval of a Spot XRP ETF is fundamental for the ecosystem. It responds to Wall Street’s growing demand for the token, offering a regulated pathway. For a long time, institutional investors sought regulated vehicles to gain exposure to alternative cryptocurrencies. Therefore, this ETF provides that long-awaited legal and secure access route. It also follows the recent success of similar products, like Bitwise’s spot Solana ETF.
The market’s reaction is highly anticipated by the community. The influx of institutional money could significantly strengthen XRP’s position. The asset’s price found recent and solid support at $2.10. Some analysts see a potential acceleration toward $3 if the price manages to break above the 200-day EMA. Nonetheless, the long-term outlook appears strong, with targets of $5 in the coming months.
This launch of the Spot XRP ETF marks a before and after for the asset. It represents a crucial step toward XRP’s legitimacy in traditional financial markets. Investors are now closely watching $XRPC’s inflow volume in its opening days. This could be the first step in a new phase of mass adoption.
