XRPC ETF Debuts at $58M as Markets Reel From Tech Rout and China Slump
A new crypto ETF made a splashy entrance even as global markets turned risk-off. The XRPC exchange-traded fund opened with $58 million in first-day volume, outpacing every 2025 ETF launch so far, while equities sold off on fading Federal Reserve rate-cut hopes and mounting AI valuation jitters. Macro headwinds from China and a jump in oil prices added to the volatility backdrop.
XRPC’s strong debut underscores investor appetite for digital assets beyond Bitcoin and Ethereum. The altcoin-focused ETF’s early traction signals growing demand for diversification within crypto markets, a theme increasingly relevant for institutional and retail traders seeking exposure to broader blockchain ecosystems.
Sentiment elsewhere was downbeat. China’s investment slump deepened by more than 10%, the weakest reading since the pandemic, while factory output and retail sales slowed to one-year lows—evidence of faltering momentum in the world’s second-largest economy. Meanwhile, geopolitical risk lifted energy prices as Ukraine’s drone strikes on Russian oil assets pushed WTI crude to $59.58 and Brent to $63.88. Despite the bounce on supply concerns, the broader outlook for oil remained cautious.
Equities faced heavy pressure. Tech stocks led a sharp sell-off—described as the worst day since April—amid concerns over stretched AI valuations and reduced expectations for near-term Fed rate cuts. Major U.S. indexes logged their weakest session in a month, futures were flat into the next trading day, and some global benchmarks fell more than 5% as risk appetite retreated.
Key Points – XRPC ETF launched with $58 million in first-day volume, the strongest 2025 ETF debut to date. – Investors are signaling demand for altcoin exposure beyond Bitcoin and Ethereum. – China’s economy weakened, with investment down 10%+, and factory output and retail sales at one-year lows. – Ukraine drone strikes on Russian oil facilities lifted WTI to $59.58 and Brent to $63.88 despite a broadly bearish oil outlook. – Tech-led sell-off hit U.S. markets, with the worst session since April and major indexes at a one-month low. – Rate-cut expectations eased, AI valuation concerns grew, and global stocks in some regions fell more than 5%.
