XRP ETF Blasts Off!

Canary Capital’s XRPC made the year’s biggest ETF debut with $58 million in first-day volume.

Danielle du Toit
November 14, 2025

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Canary's Spot XRP ETF Generates $58 Million in Day-One Trading Volume Surpassing Bitwise's SOL ETF Launch Total
Stay Calm: Bitcoin Whales are Selling, But It’s No ‘Sudden Exodus’
Coinbase Calls Bank Push Against Stablecoin Rewards ‘Unamerican’
Crypto Exchange Kraken Boss Says They Aren’t Racing to Go Public in US

Canary Capital’s XRP ETF (XRPC) made the year’s biggest ETF debut with $58 million in first-day volume.

Canary Capital’s new XRP ETF (XRPC) debuted with $58 million in first-day trading volume, making it the biggest ETF launch of 2025 among nearly 900 new products.
XRPC surpassed Bitwise’s BSOL ETF, which previously held the record with $57 million on day one.
Some earlier crypto-linked launches included REX Shares’ XRP ETF (XRPR) with $37.7 million in day-one volume and the REX-Osprey DOGE ETF with $17 million.

Glassnode says recent Bitcoin whale movements reflect normal late-cycle profit-taking rather than an exodus of long-term holders.

A major Bitcoin whale linked to trader Owen Gunden moved 2,400 BTC to Kraken, adding to the recent signs of whale selling activity.
Glassnode analysts said the trend is consistent with typical late-cycle behavior, and pointed out that long-term holder spending has risen from 12,000 BTC per day in July to about 26,000 BTC.
They argue the data does not support narratives of “OG whales dumping,” but instead reflects normal, steady profit-taking seen in past bull markets.

Coinbase criticized US banking groups for pushing to ban stablecoin-related rewards.

Coinbase pushed back against US banking groups that want regulators to ban merchant rewards, cashbacks and discounts tied to stablecoin payments, calling the proposal “unamerican” and beyond the scope of the GENIUS Act.
Banking lobbyists argue that such rewards amount to “indirect interest” if the businesses offering them have ties to a stablecoin issuer, but Coinbase’s Faryar Shirzad said regulators should stick to the law as written.
Coinbase claims banks fear stablecoins could drain massive amounts of deposits from the traditional system.

Kraken says it isn’t hurrying toward an IPO despite improving market conditions.

Kraken co-CEO Arjun Sethi said the exchange is not rushing toward a US IPO, as the company is financially strong and well-capitalized as a private firm.
Sethi explained that Kraken has robust risk management and doesn’t feel pressure to “race to the door.”
Reports since 2024 have suggested Kraken was preparing for a potential IPO, and Bloomberg indicated a target as early as Q1 2026, but the company is signaling no urgency.

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