XRP ETF XRPC Records $245M Inflows in Market Debut: Report
- Canary Capital’s XRP ETF drew strong debut demand as hidden inflows surpassed early volume.
- The fund logged $245M in day-one inflows even though early trading activity appeared limited.
- XRPC’s opening performance ranked among the most notable crypto ETF launches this year.
Canary Capital’s XRP ETF made an unexpected impact on November 13 as it entered the market with stronger demand than forecasts suggested. The fund, trading as XRPC, drew notable attention as hidden inflows exceeded visible activity. Its first day drew analyst attention as ETF share creation methods shaped early signals of institutional interest during its market arrival.
Canary reported net inflows of $245 million on day one. The figure surprised market watchers because trading volume looked modest at first. Nate Geraci highlighted that the gap existed because issuers added new units through in-kind creations. These transfers use XRP instead of cash and do not appear in regular volume data.
New Data Highlights True Launch Momentum
Data from SoSoValue initially showed no inflows on launch day. The fund’s assets later updated to more than $243.05 million, showing the size of the underlying movement. This adjustment cleared confusion among early observers who wondered why visible trading seemed low. Once corrected, the data reflected stronger demand than traders first believed.
Source: SoSo Value
A market analyst noted that the launch drew less public notice than expected. The analyst also pointed out that inflows of this size from a single ETF could hint at broader interest once additional XRP products reach the market. The remark stayed cautious and did not claim any guaranteed outcome.
The debut placed XRPC among the strongest ETF openings of 2025. The fund reached $26 million in trading volume within its first 30 minutes. Activity rose to $58.5 million by the close of trade. These levels pushed it ahead of the opening performance of a well-known Solana ETF introduced earlier in the year.
The $245 million in net inflows ranked as the largest first-day total among all crypto ETFs launched this year. The number also placed XRPC ahead of more than nine hundred ETFs introduced across markets in the same period. It came close to matching the first-day inflows of a major Ethereum ETF released the year before.
Institutional Interest Comes Into Focus
Ripple’s chief executive commented that “It’s (finally!) happening”, the event marked a significant moment for institutional XRP access. The statement reflected long-standing expectations that an ETF would eventually reach the market.
A debate formed around how the settlement process affects XRP purchases linked to inflows. One market watcher argued that ETF inflows settle on a T+1 schedule. This view suggested that asset buying connected to the first-day inflows would appear the following day, not during the initial session.
Another analyst, James Seyffart, disagreed and said the impact may already be reflected once inflows are reported. This counterpoint focused on how ETF mechanisms interact with existing liquidity. The exchange highlighted the challenge of interpreting new ETF data during active launch periods.
Related: Altcoin ETFs See Strong U.S. Inflows in One Trading Day
A separate estimate explored how demand might scale if more XRP ETFs drew inflows similar to XRPC. Using $245 million as a base, the calculation projected $2.94 billion in daily inflows across 12 products. The scenario was theoretical and depended on uniform interest across all funds.
There were also clear limits to that projection. Only eight of the listed XRP ETFs feature spot exposure. The rest rely on futures contracts and don’t buy XRP outright. These products can’t impact price in spot market purchasing, and have lower odds of any result more from uniform inflows than identical ones.
Still, the first-day showing for XRPC marks an important milestone in the expanding roster of digital asset ETFs. Its inflows, turnover and rapid asset growth indicated robust demand from market participants. The unveiling made the fund one of the most high-profile launches so far this year, stirring ongoing interest among analysts and investors.
