Рынок взлетел: старт спотового XRP-ETF от Canary Capital привёл к росту цен Translation: Market Soars: Launch of Canary Capitals Spot XRP ETF Triggers Price Surge

The launch of the fund boosted the price of the underlying asset.

On November 13, trading of spot ETFs based on XRP under the ticker XRPC commenced on the Nasdaq. The product was introduced by Canary Capital.

On Thursday, Nasdaq officially notified the U.S. Securities and Exchange Commission of receiving Canary’s application in the form of 8-A. This action facilitates obtaining «automatic» approval for listing.

The exchange-traded fund holds XRP through custodians Gemini Trust Company and BitGo Trust Company, employing CoinDesk XRP CCIXber as the pricing benchmark.

At the time of writing, the trading volume of XRPC had surpassed $36 million, according to SoSoValue. Other details regarding the product, such as assets under management (AUM) and inflows, are not yet available.

Bloomberg analyst Eric Balchunas noted that the turnover significantly exceeded his expectation of $17 million for the day.

“XRP is one of the most widely adopted and utilized digital assets in the world. Access to the coin through an ETF will pave the way for the next wave of adoption and growth of critical blockchain infrastructure. We are confident that XRP will play a pivotal role in advancing our global financial system,” stated Stephen McClurg, CEO of Canary Capital.

In light of the news surrounding the fund’s launch, XRP’s price surged by 3% over 24 hours to $2.4, marking a weekly increase of 7%. The asset showed positive dynamics despite the downturn in the broader cryptocurrency market.

It is worth noting that on November 10, the U.S. provider of post-trading, clearing, and settlement services on the financial market, DTCC, added five spot XRP ETFs to its list, which are in the preliminary launch phase. In addition to the Canary product, it included funds from Bitwise, Franklin Templeton, 21Shares, and CoinShares.