Canary Capital's XRP Trust began trading on Nasdaq Tuesday at $14.50, offering investors a regulated way to gain XRP exposure through standard brokerage accounts without needing a crypto exchange. The product holds XRP in custody with BitGo and Gemini, charges a 0.5% sponsor fee, and can be held in tax-advantaged accounts such as IRAs.
Canary Capital's XRP Trust started trading on Nasdaq at $14.50 a share Tuesday, giving investors a regulated vehicle for XRP exposure through standard brokerage accounts.
The custody arrangement with BitGo Trust Company and Gemini Trust Company, alongside U.S. Bank handling cash administration, gives the product a "boring and established" provider stack that traditional investors expect, Fire Hustle, a crypto analyst, said in a video covering the listing.
XRPC carries a sponsor fee of 0.5% per year. Shares may trade at a premium or discount to the net asset value of the underlying XRP, and the product does not offer staking or yield because the XRP Ledger does not use a proof-of-stake consensus mechanism. The trust is not registered under the Investment Company Act of 1940, meaning it does not operate under mutual-fund or traditional ETF rules. XRP traded at $1.34 at press time, up 0.41% in the past 24 hours, with a seven-day gain of 2.81%, according to CoinGecko.
The listing opens XRP exposure to investors who prefer tax-advantaged accounts such as IRAs, where crypto exchange accounts are not permitted. Ripple's legal battle with the SEC, resolved in 2025, had previously deterred some institutional participants. The XRP Ledger has processed over 4 billion transactions since its 2012 launch, with daily volume recently reaching about 3 million transactions, roughly triple mid-2024 averages, according to the video. Ripple holds more than 75 regulatory licenses globally and hosts about $3.5 billion in tokenized real-world assets, up from under $1 billion earlier this year.
Other XRP investment products also posted gains Tuesday. The Bitwise XRP ETF rose 0.46% to $15.25, while the Franklin XRP ETF advanced 0.47% to $14.81, according to SoSoValue data. Combined daily trading volume across all spot XRP ETFs reached $7.65 million, compared with $34.80 million for BlackRock's iShares Bitcoin Trust alone during the same period. The relatively low volume alongside rising prices may signal a quiet accumulation phase among institutional investors, analysts said.
A key risk for XRP holders is that banks using Ripple's technology are not required to use the XRP token, and the rise of Ripple's own dollar stablecoin, RLUSD, could push more settlement activity into the stablecoin instead. Extremely low transaction fees on the XRP Ledger also limit how much value flows back to the asset, meaning Ripple the company could continue to win while XRP the token captures less value than holders expect.
This article is for informational purposes only and does not constitute investment advice.
