Expert Says 12 XRP ETFs Could Bring in $2.94B in a Day: Here’s How

A market commentator has detailed how 12 XRP ETFs could bring in nearly $3 billion if they matched the Canary Capital ETF’s strong debut figures.

After months of anticipation, the first pure spot XRP ETF, the Canary Capital XRP ETF (XRPC), opened trading and performed exceptionally. By the end of its first day, the fund recorded $58.5 million in trading volume. 

Canary XRP ETF Boasts Strong Debut

Notably, this performance edged out the Bitwise Solana ETF (BSOL), which closed its own first session with $57 million, giving XRPC the strongest first-day volume of any ETF launched this year. The fund also attracted an impressive $245 million in net inflows on day one.

Despite these impressive figures, XRP did not show the reaction many investors expected. XRP currently trades around $2.30 and slipped more than 6% over the past 24 hours. 

This triggered questions across the community. To address the confusion, game designer and well-known XRP advocate Chad Steingraber explained why ETF flows do not impact prices immediately.

How 12 XRP ETFs Could Bring in $2.94B in Netflows

Steingraber claimed that ETFs follow a T+1 settlement cycle. He explained that the $245 million in net inflows from XRPC’s first day would only turn into XRP purchases the following day. 

According to him, once the inflow reaches authorized participants, the ETF machinery begins acquiring the underlying asset. However, Bloomberg ETF analyst James Seyffart debunked this, suggesting that the price impact has already happened.

The market pundit then tried to estimate how this could scale across the entire ETF lineup. Using XRPC’s debut inflow of $245 million as a base number, he suggested that if all 12 XRP ETFs bring in $245 million each, this would lead to a combined $2.94 billion in daily net inflows.

Daily Avg Scenario = $245Million Inflow for 1 ETF Fund

x12 ETF Funds = $2,940,000,000 XRP Daily Net Inflow

100x Daily Market Cap Multiplier = $294,000,000,000 https://t.co/5eD4OD3n8H pic.twitter.com/hyDKQYAGGy

— Chad Steingraber (@ChadSteingraber) November 13, 2025

Steingraber then assumed a 100x market-cap multiplier, suggesting that the $2.94 billion inflow would push XRP’s market cap to $294 billion. Since XRP’s current market cap sits at $138.6 billion and its circulating supply stands at 60 billion, this scenario would push XRP’s valuation to about $432.6 billion, leading to a price near $7.21.

Some Notable Limitations

However, this projection has some limitations. Even though the market lists more than 12 XRP ETFs, only 8 of them hold spot exposure. The rest are futures-based products that never buy actual XRP, so they cannot influence its price the way many investors assume. 

Notably, some of these futures-focused products already trade and have not produced any noticeable effect on XRP’s market behavior. One of the eight spot ETFs, the REX-Osprey fund, does not offer pure spot exposure and launched almost two months ago without any visible impact.

Also, there is no guarantee that the remaining spot ETFs looking to launch will match XRPC’s impressive debut. Also, even if they attract similar strong inflows, most of their early buying will likely route through over-the-counter desks. These desks allow large funds to acquire assets efficiently but usually create little immediate movement on public price charts.

As a result, investors should see these projections as possibilities rather than guarantees. Even so, the strong debut of XRPC shows growing institutional interest in XRP, and continued ETF adoption could eventually support prices in the same way Bitcoin ETFs supported BTC.