- XRPC on track to flip BSOL’s $57 million record
- XRPC eyes over $150 million volume target on day one
Just after its launch on Thursday, November 13, the Canary XRP ETF is already beating expectations, as it has recorded a surprising $26 million in volume within the first 30 minutes of its grand debut.
Eric Balchunas, the senior ETF analyst for Bloomberg, has shared this exciting update via his X handle, revealing that the milestone has seen XRPC blow out his initial predictions of $17 million.
XRPC on track to flip BSOL’s $57 million record
The analyst further shared data revealing that the ETF is priced at $26.54 per share. Hence, this means that about 1 million units have been traded early within half an hour after it launched.
The early momentum surrounding XRPC has far exceeded initial expectations, beating previous predictions of market experts. Apparently, this is attributable to the hype and heightened enthusiasm surrounding the product long before its official launch.
Nonetheless, the rapid surge in activity witnessed by XRPC in its first trading session has made the fund a strong contender to the recently launched Bitwise Solana ETF, BSOL.
While BSOL had achieved the highest first-day volume for any crypto ETF launch this year with a massive $57 million record, it appears that the Canary XRP ETF is right on track to beat this record.
XRPC eyes over $150 million volume target on day one
With a massive $26 million already achieved in the first 30 minutes of launch, market experts are already predicting the Canary XRP ETF volume to surpass a record $153 million before the end of its first trading day.
A popular crypto commentator, Chad Steingraber, has shared this prediction on X, sparking more discussions across the crypto community.
You Might Also Like
While the launch of the first spot XRP ETF has ignited more optimism on XRP’s next price action, the leading altcoin has briefly responded positively to market speculation.
Currently being the topic of discussion across the crypto community, XRP has suddenly flipped positive with about a 3% surge for the first few minutes after XRPC launched, defying the broad crypto market trend.
With all top 10 cryptocurrencies, including Bitcoin, trading in deep red territory, XRP stands as the only leading altcoin showing a decent gain of 2.66% as of writing time, hovering around the $2.40 mark.