XRP ETF Breaks Out, Designed for Institutional Investors

Canary Capital’s new spot XRP exchange-traded fund (ETF), ticker XRPC, has made a massive splash in the market, surpassing initial estimates and achieving over $58 million in trading volume on its first day. This launch signifies a major shift toward institutional adoption of XRP, challenging the earlier notion that it was solely geared towards retail investors. Software engineer Vincent Van Code argues that this product is specifically designed to address the complexities faced by institutions trying to gain exposure to XRP without the challenges of custody or self-custody.