Canary Capital has brought to market the first exchange-traded fund (ETF) offering one-time exposure to XRP, expanding the crypto ETF landscape beyond bitcoin. ether and Solana .
XRP rose slightly over the past 24 hours to $2.46, but is up 7.8% over the past week, significantly outperforming most major cryptocurrencies.
The fund, which will begin trading on Nasdaq starting today under the symbol XRPC, is structured under the Investment Company Act of 1940 – a regulatory framework that requires the use of a qualified custodian to hold the underlying crypto assets.
Canary Capital, Bitwise, Franklin Templeton, and 21Shares have all filed new documents for their spot XRP funds, with Canary Capital being the first to do so.
“XRP is one of the most established and widely used digital assets in the world, making XRP accessible through an ETF will enable the next wave of adoption and growth of a critical blockchain system,” said Steven McClurg, CEO of Canary Capital, in a statement. “We believe that XRP will play a key role in the evolution of our global financial system.”
The fund allows traditional investors to access XRP and network-generated rewards through a brokerage account without the need to manage crypto assets directly.
XRP, which powers the Ripple payment network, operates on a consensus mechanism separate from proof-of-stake blockchains like Ethereum or Solana. However, the ETF design offers return characteristics linked to blockchain participation, positioning it as part of a new category of digital asset funds that bundle potential income with crypto exposure.
The new fund reflects a continuing evolution in the crypto ETF space, as issuers and regulators test new ways to integrate native blockchain features such as staking or yielding into regulated investment vehicles designed for broader market access.
