Canary Capital has brought to market the first exchange-traded fund (ETF) offering spot exposure to XRP, expanding the crypto ETF landscape beyond bitcoin , ether and solana .
XRP is up modestly over the past 24 hours to $2.46, but higher by 7.8% over the last week, solidly outperforming most major cryptos.
The fund, which will begin trading on the Nasdaq starting today under the ticker XRPC, is structured under the Investment Company Act of 1940 — a regulatory framework that mandates the use of a qualified custodian to hold the underlying crypto assets.
Canary Capital, Bitwise, Franklin Templeton, and 21Shares all had filed new documents for their spot XRP funds, with Canary Capital being the first one to do so.
“XRP is one of the most established and widely used digital assets in the world, accessibility to XRP through an ETF will enable the next wave of adoption and growth in a critical blockchain system,” said Steven McClurg, CEO of Canary Capital, in a statement. “We believe 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 needing to directly manage crypto assets.
XRP, which powers the Ripple payment network, operates on a consensus mechanism distinct from proof-of-stake blockchains like Ethereum or Solana. However, the ETF’s design offers yield features tied 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 an ongoing evolution in the crypto ETF space, as issuers and regulators test new ways to package blockchain-native features like staking or yield into regulated investment vehicles designed for broader market access.