Canary Capital has launched the first exchange-traded fund (ETF) providing direct spot exposure to XRP, marking a significant expansion in the crypto ETF market beyond Bitcoin, Ether, and Solana. The new fund, trading on Nasdaq under the ticker XRPC, offers investors regulated access to XRP and its network-generated rewards.
XRP has shown steady performance, rising modestly to $2.46 in the past 24 hours and increasing 7.8% over the previous week, outperforming many major cryptocurrencies.
Fund Structure and Regulatory Framework
XRPC is structured under the Investment Company Act of 1940, requiring the use of qualified custodians to securely hold the underlying crypto assets. This regulatory framework aims to provide investor protections typical of traditional securities.
Canary Capital was the first among several firms—including Bitwise, Franklin Templeton, and 21Shares—to file for spot XRP ETFs, positioning itself as a pioneer in this space.
Access to XRP and Blockchain Rewards
Steven McClurg, CEO of Canary Capital, stated, “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.” He emphasized XRP’s potential role in the evolution of the global financial system.
The ETF enables traditional investors to gain exposure to XRP and associated network rewards through a standard brokerage account, eliminating the need to directly manage crypto wallets or custody.
XRP’s Unique Consensus and Yield Features
XRP powers the Ripple payment network and uses a consensus mechanism different from proof-of-stake blockchains like Ethereum or Solana. The ETF incorporates yield features linked to blockchain participation, categorizing it among a new breed of digital asset funds that combine potential income streams with crypto exposure.
This development highlights ongoing innovation in the crypto ETF sector, as issuers and regulators explore regulated vehicles that integrate blockchain-native features such as staking and yield generation, aiming to broaden market access.
