Canary Capital Group LLC announced on July 23 the launch of the Canary XRP ETF (NASDAQ: XRPC), a U.S. exchange-traded product providing direct spot exposure to XRP, the native token of the XRP Ledger (XRPL). The ETF allows investors to gain price exposure to XRP through a traditional brokerage account, bypassing the need for self-custody or exchange management.
“XRP is one of the most established and widely used digital assets in the world,” said Steven McClurg, CEO of Canary Capital. “Accessibility to XRP through an ETF will enable the next wave of adoption and growth in a critical blockchain system.”
XRP: Built for Payments, Not Speculation
XRP is not primarily a speculative store of value. Its design serves a practical purpose: enabling fast, low-cost cross-border transfers, asset tokenization, and next-gen financial applications. The XRP Ledger, live since 2012, processes thousands of transactions per second with minimal energy consumption and fees under a fraction of a cent.
The network’s consensus mechanism eliminates mining and confirms transactions in seconds — a stark contrast to traditional banking delays. McClurg described the XRPL as making money transfer “as easy as sending an email.”
ETF Structure Removes Custody Complexity
The launch of XRPC comes as the digital asset market pivots beyond Bitcoin toward tokens with real-world utility. Previously, institutional and retail investors seeking XRP exposure had to manage private keys or rely on crypto exchanges, introducing security and operational risks. XRPC eliminates those hurdles by wrapping XRP in a regulated ETF structure.
“We believe XRP will play a key role in the evolution of our global financial system,” McClurg added. “It’s a bridge between traditional finance and the blockchain economy, built for scale and real enterprise utility. XRPC allows investors to participate in the prospects of that evolution.”
Canary Capital is an investment management firm blending risk management, strategic foresight, and innovative thinking. The firm offers private placements, crypto hedge fund solutions, treasury management, and publicly traded funds, with a focus on enterprise technology.
Risk note: Single-asset ETFs experience higher volatility. Digital asset markets are subject to rapid changes and regulatory uncertainty. The fund is not actively managed; investors do not hold XRP directly and cannot redeem shares for XRP. Market price may deviate from net asset value.