The first spot XRP ETF in the U.S. has been approved and will begin trading tomorrow. The decision opens a regulated channel for institutional investors and could accelerate flows into XRP.
The approval falls on a Canary Capital product with ticker XRPC, authorized for listing on Nasdaq, according to filed documentation. The vehicle was enabled under the Securities Act of 1933 through the automatic effectiveness process 8(a), and the manager set a competitive fee of 0.5%. As an exchange-traded fund, it offers regulated exposure without the need to custody the token directly.
The market reacted immediately: XRP rose 3.28% to $2.48 and trading volume increased 31%, according to cited market data, signaling strong initial appetite for the new access route.
Competition is already forming: another manager, REX‑Osprey, has an ETF with ticker XRPR in the pipeline, with a possible launch on Nov. 15, 2025, and market sources estimate up to seven spot XRP ETF launches within a 12-day window. This pattern suggests accumulated institutional demand and a shift in the supply of tradable products.
Context and market reaction
The decision lands amid broader regulatory review: in April 2025, the SEC authorized trading of options on spot Ethereum ETFs, which analysts view as a sign of greater willingness to integrate digital assets into traditional market structures.
The entry of spot XRP ETFs may increase liquidity and reduce frictions for institutional portfolios; however, it may also intensify intraday volatility, especially during opening days and supply reviews. For treasuries considering an allocation, regulated access simplifies custody but retains market and counterparty risks associated with ETFs.
From a derivatives perspective, higher spot volume can attract more activity in perpetuals and futures, potentially altering funding and open interest (OI) levels.
Trading is confirmed from tomorrow, Nov. 14, 2025; the next milestone to watch is the possible listing of XRPR on Nov. 15 and the arrival of multiple ETFs in the 12-day window, events that will define net flows and the new price and liquidity dynamics of XRP. The first days of trading and flows will determine the intensity of the institutional impact.
