Popular author and filmmaker Paul Barron has shared his thoughts on the first launched U.S. spot XRP exchange-traded fund (ETF). Barron claimed BlackRock, the world’s biggest asset manager, missed out on an amazing opportunity.
Did BlackRock underestimate XRP ETF demand?
In an X post, Barron wrote, “BlackRock missed this one – the battle is on now! $XRP.”
Barron is pointing out that Canary Capital beat BlackRock to the punch with its XRP ETF launch. He implied that BlackRock underestimated the demand for XRP, allowing a competitor to capture first-mover advantage and early inflows.
BlackRock is a dominant player in crypto ETFs, launching the first spot Bitcoin ETF in January 2024.
The fund amassed billions in inflows and set the standard for institutional entry into crypto. The asset manager also expanded into Ethereum (ETH) and other assets.
However, BlackRock has not filed for or launched a spot XRP ETF yet. It is possibly due to a strategic focus on higher-profile assets like BTC and ETH.
As revealed in a U.Today report, Canary Capital debuted the first U.S. spot XRP ETF on Nov. 13, 2025. Canary Capital launched the XRPC ETF on Nasdaq, providing investors with direct, regulated exposure to XRP.
This followed regulatory milestones, including an August 2025 settlement in the long-running SEC vs. Ripple lawsuit.
The launch was a massive success right out of the gate. XRPC hit over $25 million in volume within the first 30 minutes of trading, according to a report from TradingView.
Bloomberg analyst Eric Balchunas highlighted that XRPC has become the biggest ETF launch of 2025. On the first day of trading, volume reached $58 million.
As a result, XRPC slightly outperformed the Bitwise Solana Staking ETF (BSOL), which began trading on Oct. 28.
Will BlackRock give in?
Analyst Dom Kwok spotlighted a post from TradingView, noting he had forecasted in August that an XRP ETF would be “among the most popular ever.”
Kwok highlighted the volume as proof of increased demand and suggested BlackRock might soon follow with its own XRP product.
If this happens, it would signal broader institutional adoption and increased prices for the XRP coin.
The price of XRP rose about 3.6% in the 24 hours after the Canary ETF launch. However, the price has since declined and is now trading at $2.20, down 8.4% over the past 24 hours.