The cryptocurrency XRP fell about 3% Thursday after the first U.S. exchange-traded fund holding the token began trading.
The fund, launched by crypto asset manager Canary Capital, saw about $58 million worth of shares changing hands on its first day of trading, according to Bloomberg data.
It is among the initial wave of crypto ETFs launched under the Securities and Exchange Commission’s new, streamlined listing standards, said Steven McClurg, Canary Capital’s chief executive.
