**XRP Surges as First U.S. Spot ETF Debuts on Nasdaq**
*Canary Capital’s XRPC ETF marks a major milestone for Ripple.*
Ripple’s native token, XRP, surged on Thursday following the debut of Canary Capital’s spot XRP exchange-traded fund (ETF), trading under the ticker **XRPC** on the Nasdaq. XRP jumped roughly 5% to $2.50 shortly after the ETF’s launch before retracing slightly to $2.42, still up 3%, according to The Defiant’s price page.
This price movement builds on a week-long momentum, as XRP had already rallied nearly 10% over the past seven days amid anticipation for the new ETF’s debut.
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### A Ripple Milestone
The launch of the XRPC ETF marks the first U.S.-listed spot ETF directly tied to XRP, highlighting the token’s progress toward broader mainstream adoption. In its first 30 minutes of trading, the fund drew approximately $42 million in volume.
At the time of writing, XRPC is trading at $25.60, down 3.9% from its opening price of $26.60.
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### Regulatory Progress and Market Support
The listing follows the U.S. Securities and Exchange Commission’s (SEC) approval of Canary Capital’s Form 8-A filing earlier this week. BNY Mellon is serving as the fund’s custodian, while Nasdaq will handle daily trading operations.
This milestone comes after years of legal and regulatory uncertainty surrounding Ripple and XRP. The SEC’s five-year lawsuit over whether XRP should be classified as a security was officially settled earlier this year after both parties dropped their appeals.
Experts told The Defiant that this legal resolution signals a shift in the SEC’s approach—from relying heavily on enforcement actions to working toward clearer regulatory guidelines. Nonetheless, the overall regulatory environment for cryptocurrency in the U.S. remains uncertain.
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### The Rise of Cryptocurrency ETFs
The SEC’s approval of the first spot Bitcoin (BTC) ETFs in January 2024 marked a significant moment for the cryptocurrency industry. Bitcoin ETFs currently hold $135.8 billion in total net assets, representing roughly 6.67% of Bitcoin’s market capitalization.
The launch of the first U.S. spot XRP ETF now opens new opportunities for investors seeking exposure to XRP through regulated financial products, signifying growing institutional interest in the token.
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Stay tuned for further updates as XRP continues to gain traction in both mainstream finance and the crypto community.
https://bitcoinethereumnews.com/tech/xrp-surges-as-first-u-s-spot-etf-debuts-on-nasdaq/