According to @EleanorTerrett, Canary Funds launched the first XRP spot ETF on Wall Street under ticker XRPC, describing its debut as record-breaking, which puts immediate focus on liquidity, spreads, and flows for XRP-linked trading strategies; source: @EleanorTerrett on X, Nov 14, 2025. The same post adds that Paul S. Atkins shared next steps in Project Crypto, flagging ongoing regulatory developments traders should track for exchange-traded crypto products; source: @EleanorTerrett on X, Nov 14, 2025. For execution and risk management, traders should monitor XRPC daily volume, AUM changes, bid-ask spreads, and premium or discount to NAV because these metrics affect liquidity and fill quality; source: U.S. SEC Investor Bulletin: Exchange-Traded Funds (Investor.gov). For data confirmation on flows and holdings, check issuer communications and trading updates; source: @CanaryFunds on X.

According to the source, U.S.-listed spot Bitcoin ETFs broke a six-session run of net outflows with a net inflow as dip buyers returned, signaling a potential shift in near-term demand for BTC. Source: the source. When creations exceed redemptions, authorized participants must deliver BTC into the trust, typically sourcing coins in the spot market, which adds direct buy-side flow; this mechanism transmits ETF demand to underlying BTC. Source: iShares Bitcoin Trust (IBIT) prospectus and Fidelity Wise Origin Bitcoin Fund (FBTC) prospectus. For trading, monitor whether positive net flows persist across multiple closes, as sustained creations often coincide with tighter spot–futures basis and increased CME BTC futures liquidity, which can affect arbitrage and momentum setups. Source: CME Group education on futures basis and liquidity. Intraday, track NAV premium/discount and end-of-day issuer flow updates to assess whether APs continue creating shares; persistent premiums frequently align with net inflows while discounts align with redemptions. Source: BlackRock iShares and Fidelity ETF daily disclosures and product documentation. If flows revert to outflows, AP redemptions can release BTC back to the market, easing buy pressure and potentially loosening basis. Source: iShares Bitcoin Trust (IBIT) prospectus and Fidelity Wise Origin Bitcoin Fund (FBTC) prospectus.

According to @rovercrc, Bitwise has confirmed completion of the first-ever in-kind redemption for its Bitcoin ETF, reported on Aug 22, 2025, source: @rovercrc on X. In-kind redemptions deliver underlying bitcoin to an authorized participant instead of selling for cash, a structure ETFs use to minimize capital gains distributions and trading costs, source: SEC Investor Bulletin on Exchange-Traded Funds. Because the ETF transfers BTC rather than selling in the open market, in-kind redemptions are designed to limit market impact and support tighter ETF-NAV alignment via the AP arbitrage process, source: BlackRock iShares ETF education and CFA Institute ETF Primer. The Bitwise Bitcoin ETF (ticker BITB) offers standard creation and redemption mechanisms disclosed in its fund materials, which traders monitor alongside NAV premiums/discounts and flow metrics to gauge liquidity conditions, source: Bitwise Asset Management fund documentation.