Canary Capital clients purchased $245 million worth of XRP through the firm’s newly launched spot XRP ETF on its first day of trading. The fund is the first US spot XRP ETF, giving investors direct exposure to XRP through a traditional, regulated investment vehicle.

Canary Capital’s spot XRP ETF debuted on Nasdaq under the ticker XRPC, enabling mainstream investors to access XRP through traditional brokerage accounts. The ETF structure requires custodians to hold physical XRP to back shares, creating institutional demand for the underlying asset.

The XRPC fund currently manages nearly 109 million XRP valued at over $250 million, according to its holding disclosure.