XRP ETF Posts Record $245M Inflows in Debut Trading Session

The Canary XRP ETF (XRPC) logged a standout first trading session on November 13, posting more than $58.5 million in volume and about $245 million in net inflows. This performance immediately pushed XRPC ahead of Bitwise’s Solana fund (BSOL), which previously held this year’s top spot for ETF launches. The debut was particularly notable given that XRPC surged out of the gate at market open after Nasdaq certified the listing the evening before.

Analyst Eric Balchunas provided real-time tracking of the launch, noting that the fund traded $26 million within its first 30 minutes—surpassing his $17 million projection by 53%. This strong opening momentum ultimately allowed XRPC to edge out BSOL’s earlier $57 million opening-day figure, cementing its position as the year’s most successful ETF launch. The rapid adoption caught the attention of market observers, with journalist Eleanor Terrett commenting that ‘with the XRP Army behind it, is anyone really surprised?’ about the fund’s chart-topping performance.

The significant gap between XRPC’s $58.5 million trading volume and its $245 million in net inflows puzzled some market observers initially. ETF expert Nate Geraci clarified this apparent discrepancy by explaining the role of in-kind creations. These large institutional allocations, which do not appear in traditional trading data, helped explain how XRPC could post nearly a quarter-billion dollars in inflows despite sub-$60 million in visible volume.

Geraci highlighted that nearly every crypto ETF launch in the past two years has beaten Wall Street’s initial expectations, pointing to a pattern of deep-pocketed demand that the traditional finance ‘old guard’ continues to underestimate. This institutional interest through in-kind creations represents a fundamental shift in how sophisticated investors are accessing crypto exposure, bypassing traditional trading channels while still contributing substantial capital to these new financial products.

The product’s launch follows a broader wave of crypto ETFs that went live through automatic SEC registration rules. The same methods helped launch BSOL and other spot products for Litecoin and HBAR in late October, with XRPC using a similar setup that provides access through a 1933 Act vehicle and depends on Form 8-A certification instead of needing direct approval from the regulator. This regulatory pathway has enabled faster market entry for crypto investment products while maintaining compliance frameworks.

Meanwhile, XRP itself has been trading around $2.28, sliding roughly 9% over the last 24 hours. Despite the pullback, the token remains nearly 3% higher this week and more than 220% year over year. However, in the last 30 days, it has softened, drifting about 9% lower as part of a broader cooldown across major altcoins. The current range between $2.27 and $2.52 places it well below its July all-time high near $3.65, though far above its early-cycle lows.

Analysts have been watching whether ETF demand could help XRP regain momentum after several weeks of uneven trading. Earlier coverage pointed to potential friction between new institutional buying and profit-taking from long-standing holders, a dynamic that may continue to shape price action through the coming sessions. With fresh bipartisan efforts in Congress to give XRP formal commodity status under the CFTC, first floated on November 10, the regulatory backdrop may also play a crucial role in how the asset performs against rising ETF interest.