Canary Capital's spot XRP exchange-traded fund (XRPC) recorded $26 million in trading volume during its second session on November 20, following a $58 million debut. The fund, which holds physical XRP and tracks the CF XRP-USD Index, trades on Nasdaq amid market volatility that pushed XRP down 7.3% to $2.22.

The first spot XRP exchange-traded funds are expected to go live within the next two weeks, according to Nate Geraci, President of NovaDius. The development follows the conclusion of the SEC's five-year litigation against Ripple three months ago. Canary Capital has removed the SEC delay clause from its S-1 filing, potentially clearing the path for a Nasdaq listing on November 13.

The cryptocurrency market posted slight declines, with Bitcoin trading at $110,204 and total market capitalization at $3.7 trillion. Bitwise CIO Matt Hougan said Bitcoin could temporarily fall below $100,000 but expects a new all-time high before year-end, driven by institutional portfolio rebalancing.