Core Insights - The first U.S. spot XRP exchange-traded fund (ETF) debuted with a trading volume of $58 million and net inflows of approximately $245 million, making it the largest ETF launch of 2025 [1][8] - The XRP ETF outperformed Bitwise's Solana Staking ETF, which previously held the record for opening-day volume at $57 million [1][3] - Despite its strong debut, the XRP ETF's performance is still significantly lower than the historic first-day figures of Bitcoin and Ethereum ETFs [4][5] ETF Performance - The XRP ETF (XRPC) leads the 2025 ETF leaderboard, followed by Bitwise's Solana ETF (BSOL) and other lesser-performing ETFs [2][3] - The opening volume of XRPC represents about 1.3% of Bitcoin's launch-day trading activity, indicating a more mature market environment for ETFs [4] Market Context - The launch of the XRP ETF is seen as a significant milestone amidst a broader market downturn and risk aversion in digital assets [8] - The strong early demand for the XRP ETF suggests a persistent enthusiasm for crypto-linked thematic funds, even as traditional ETF inflows are slowing [2][8]