Trading has begun on the first physical ETF for the cryptocurrency XRP in the US market. The Canary XRP ETF (XRPC), developed by Canary Capital, has listed on Nasdaq. It charges an annual fee of 0.5% and is backed by physical XRP, with custody provided by Gemini and BitGo.
Canary Capital's Stephen McClurg stated, "XRP is one of the most established digital assets, and an ETF will help drive adoption," and the ETF's first-day trading volume is said to have reached $26 million in the first 30 minutes.