XRP ETF Launch Sees High Demand, But Market Turmoil Erodes Gains

After years of legal battles and regulatory delays, the first U.S.-based spot XRP exchange-traded fund (ETF) launched on Thursday, creating a significant milestone for the cryptocurrency industry. Canary Capital’s ETF drew in almost $250 million on its opening day, setting the stage for potential market capitalization exceeding billions of dollars by next quarter. Ripple CEO Brad Garlinghouse hailed the launch as a long-awaited step towards bridging the XRP ecosystem and mainstream financial markets. For investors, it offers regulated exposure to XRP, which has been at the center of U.S. regulatory scrutiny for years.