Ripple CEO Brad Garlinghouse has taken to X to showcase his longstanding anticipation for meaningful institutional engagement with XRP-based investment products.
XRP captured investors’ attention yesterday after the first-ever spot-based ETF tied to the token from Canary Capital commenced trading on a U.S.-based exchange. The Canary XRP ETF (XRPC), which debuted on Nasdaq, recorded an astounding $26 million in trading volume within the first 30 minutes.
Bloomberg’s Senior ETF Analyst Eric Balchunas highlighted this incredible feat shortly after trading commenced, noting that the fund exceeded his initial $17 million volume estimate within the first 30 minutes of trading.
Ripple CEO Reacts
Interestingly, Ripple CEO Brad Garlinghouse also took notice of the product’s impressive early performance. Celebrating the milestone, Garlinghouse remarked that “it is finally happening,” reflecting his long-held optimism about the arrival of an XRP ETF.
It's (finally!) happening https://t.co/APkSQJn3aC
— Brad Garlinghouse (@bgarlinghouse) November 13, 2025
Even amid the prolonged SEC v. Ripple legal battle, Garlinghouse had maintained that an XRP ETF is inevitable, signaling his confidence that such a product would eventually make it to market.
At the time of Garlinghouse’s earlier remarks, many doubted the likelihood of a spot XRP ETF, mainly due to the token’s entanglement in the SEC lawsuit. That skepticism faded after the case’s resolution, paving the way for the first spot XRP ETF to debut on a U.S.-based exchange.
With the Canary XRP ETF posting strong early trading volume, Garlinghouse’s latest comments signal that real institutional and retail demand exists for XRP-based investment products. It also reinforces his longstanding conviction that an XRP ETF is inevitable.
XRPC Outperforms 900 ETFs in Trading Volume
Meanwhile, Garlinghouse’s remarks came before U.S. markets closed. By the end of the trading session, the Canary XRP ETF had reached $58 million in first-day volume. According to Balchunas, this made XRPC the highest-volume ETF launch of the year, outperforming more than 900 ETFs introduced during the same period.
XRPC only narrowly edged out the Bitwise Solana Staking ETF (BSOL), which recorded $57 million in debut-day volume. Nonetheless, Balchunas emphasized that both XRPC and BSOL are in a league of their own, as the next-highest ETF launch trailed by more than $20 million in volume.
Congrats to $XRPC for $58m in Day One volume, the most of any ETF launched this year (out of 900), BARELY edging out $BSOL's $57m. The two of them are in league of own tho as 3rd place is over $20m away. pic.twitter.com/MjsOeceeNb
— Eric Balchunas (@EricBalchunas) November 13, 2025
Besides its outstanding first-day volume, the Canary XRP ETF also posted a net inflow of $245 million on its debut.
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