After the success of the XRPC fund, competition is in full swing: which fund will be next?

After Canary Capital launched its XRPC fund on the Nasdaq exchange and received strong demand from day one, talk has begun to escalate that the next exchange-traded fund (ETF) linked to the XRP currency may soon hit the market, especially given the huge momentum witnessed by digital currency funds.

2025 saw unprecedented growth in the number of ETFs, with issuances breaking records in September and October.

Eric Balchunas, senior ETF analyst at Bloomberg, believes that the new guidance issued by the US Securities and Exchange Commission will speed up the approval process, which may prompt more companies to file through Form 8-A like Canary Capital.

Balchunas predicts that the next fund that may be launched on the market is Bitwise’s XRP ETF, noting that many issuers that have not yet used Form 8-A will try to benefit from it in the coming period.

The interest follows strong performance from Bitwise’s Solana ETF, which recorded $56 million in its first day of trading before XRPC surpassed it with a total trading volume of nearly $60 million, reinforcing the view that demand for crypto funds remains strong and may grow.

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