Main Points :
- The first U.S. XRP spot ETF “XRPC” has been approved for listing on Nasdaq, beginning trading on November 13.
- XRPC tracks the “XRP-USD CCIXber Index” with an expense ratio of 0.50%.
- Custody is arranged through Gemini Trust and BitGo Trust, increasing institutional confidence.
- XRP ETF demand is expected to exceed the initial week of Solana’s ETF inflow ($5.3B).
- The U.S. crypto ETF landscape is rapidly expanding following SEC’s comprehensive approval framework in September 2025.
- Investor appetite is rising not only for major assets but also for meme tokens such as MOG.
Introduction
The approval of the first U.S. XRP spot exchange-traded fund (ETF), listed under the ticker XRPC, marks a major turning point in the evolution of digital asset investment. As Nasdaq confirmed the listing of XRPC on November 13, 2025, the event signals not only the institutional recognition of XRP but also the accelerating shift toward mainstream adoption of crypto assets as regulated, transparent investment vehicles.
Following the success of Bitcoin and Solana spot ETFs, the arrival of an XRP ETF expands investor access to blockchain ecosystems that offer real-world utility, settlement efficiency, and cross-border transaction infrastructure.
XRPC’s approval also highlights the accelerating demand for diversified crypto exposure beyond BTC and ETH—representing an important development for investors seeking new opportunities, yield sources, or exposure to specialized blockchain networks.
1. Automatic SEC Clearance and Nasdaq Approval of the XRPC ETF
On November 12, 2025, Nasdaq officially approved the listing of Canary Capital’s XRP spot ETF, marking its inauguration as the first XRP spot ETF in U.S. history. Trading begins on November 13 under the ticker:
XRPC
The approval process followed the submission of Form 8-A by Canary Capital on November 10, which initiated the automatic clearance cycle under the SEC’s updated regulatory framework. After the designated review period elapsed, the ETF was granted authorization without additional intervention.
This streamlined approval demonstrates the regulatory shift that began in late 2025, when the SEC adopted broad, standardized guidelines for digital asset ETFs. These changes opened the door for a series of altcoin ETFs—including Solana (SOL), Litecoin (LTC), and Hedera Hashgraph (HBAR)—signaling an era where compliant crypto ETFs can achieve market access more efficiently.
Widely regarded as one of the most utility-focused digital assets, XRP’s inclusion in the ETF category reinforces its status as a global liquidity and settlement token for institutions, enterprises, and financial platforms.
2. Mechanism of XRPC: Index Tracking and Expense Model
XRPC is listed on the Nasdaq Global Market, designed to track:
“XRP-USD CCIXber” Index
—An institutional-grade benchmark reflecting the market price of XRP in USD.
The ETF employs full physical backing—meaning it holds real XRP rather than futures contracts—to match market performance with high precision.
Key Fund Specifications
- Type: Spot (Physically backed)
- Benchmark: XRP-USD CCIXber
- Expense Ratio: 0.50% annually
- Trading Venue: Nasdaq Global Market
- Ticker: XRPC
With a competitive expense ratio and transparent on-chain price tracking, XRPC is structured to appeal to retail and institutional investors seeking exposure without custody complexity or exchange risk.
3. Custody and Operational Security: Why XRPC Is Considered Reliable
A major factor behind strong institutional expectations is the ETF’s robust custody framework. Canary Capital assigned trusted partners for fund administration and asset storage.
Fund Administration
- U.S. Bancorp Fund Services
Handles trust operations, compliance, and fund accounting.
Custodians
- Gemini Trust Company
- BitGo Trust Company
These institutions are considered among the most reputable digital asset custodians, offering cold storage, multi-signature security, and strict regulatory compliance.
The combination of traditional fund oversight and crypto-native custody provides a hybrid model that appeals to risk-conscious investors and regulated financial institutions.
Canary Capital CEO Stephen McClurg stated that XRPC’s debut could generate inflows nearly double the volume recorded by Solana’s ETF during its first week.
For context:
Solana ETF First-Week Inflow:
$5.3 billion
McClurg projects:
XRP ETF First-Week Estimate:
~$10.6 billion
This aligns with the broader trend of investors seeking assets with higher throughput efficiency and established global usage.
4. The Crypto ETF Boom: SEC Reforms Ignite Demand
Following the SEC’s implementation of unified crypto ETF rules in September 2025, the U.S. market experienced a surge in filings across major and emerging assets.
Assets now entering the ETF pipeline include:
- Solana (SOL)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Hedera (HBAR)
- MOG (meme coin)
On November 12, Canary Capital even filed for a spot ETF based on MOG, reflecting investor appetite beyond large-cap digital assets.
Why ETF Demand Is Exploding
- Regulated on-ramps reduce counterparty risk
- Institutions prefer ETFs over direct custody
- Diversification into non-BTC/ETH assets
- Crypto infrastructure adoption is accelerating globally
- Retail investors gain accessibility through brokerage accounts
Spot ETFs provide an easy route to digital asset exposure without managing private keys or navigating exchanges—especially appealing for retirement accounts, brokers, and regulated investment platforms.
5. Implications for Investors Seeking New Crypto Opportunities
For readers exploring new assets or next-generation blockchain applications, the approval of XRPC offers several strategic insights:
1. Institutional validation of XRP
XRP’s adoption through an SEC-compliant ETF suggests that regulators now acknowledge its role as a legitimate and mature financial asset.
2. Liquidity expansion
ETF-driven inflows can substantially boost liquidity and price stability—conditions that favor ecosystem development and enterprise adoption.
3. A broader spectrum of investable altcoins
ETF frameworks are enabling access to:
- High-throughput networks
- Specialized settlement tokens
- Emerging meme assets with large communities
This shift increases opportunities to identify early-stage assets poised for institutional entry.
4. Bridge between traditional finance and blockchain
XRPC demonstrates how blockchain-based assets can integrate into established markets without requiring end-users to handle digital wallets directly.
This increases mainstream accessibility and long-term demand potential.
Conclusion
The launch of the XRPC ETF on Nasdaq represents a historic milestone—not only for XRP but for the rapidly expanding universe of crypto ETFs. As regulatory frameworks mature and investor demand grows, the approval of altcoin ETFs signals a profound transformation in how digital assets are integrated into global finance.
For investors seeking new revenue sources, early blockchain opportunities, or diversified crypto exposure, the emergence of XRP and other altcoin ETFs provides powerful new tools. Backed by institutional-grade custody, transparent benchmarks, and regulatory approval, XRPC stands as a gateway to the next era of blockchain-based asset management.
