Canary XRP ETF Launch Imminent: A Look at the First Spot XRP ETF

Thursday Nov 13 2025 09:30

Duration

2 min

  1. 1. Overview of the Canary XRP ETF

  2. 1.1 Market Anticipation and Regulatory Hurdles

  3. 1.2 Sixth Single Crypto Asset ETF

  4. 1.3 Industry Observers' Optimism and Cautions

  5. 1.4 Procedural Certification vs. Final Approval

  6. 1.5 The Anticipated Launch

  7. 1.6 Comparison to Other ETF Launches

Overview of the Canary XRP ETF

The crypto community is bracing for the launch of the first spot XRP exchange-traded fund (ETF) after Nasdaq certified the listing of Canary Capital’s XRP ETF (XRPC). The Nasdaq Stock Market exchange on Wednesday officially notified the US Securities and Exchange Commission (SEC) that it has received the Form 8‑A filing for the Canary XRP ETF (XRPC). “The official listing notice for XRPC has arrived from Nasdaq,” Bloomberg’s senior ETF analyst Eric Balchunas wrote on X, adding: “Looks like tomorrow is on for the launch.”

Market Anticipation and Regulatory Hurdles

While ETF watchers expect Canary’s spot XRP ETF to debut trading on Thursday, the SEC has yet to issue its final approval for trading to commence, leaving the debut uncertain heading into the market open.

Sixth Single Crypto Asset ETF

Nate Geraci, president of NovaDius Wealth Management, took to X on Thursday to report that Canary had launched its website for the Canary XRP ETF, highlighting the likely soon-to-come trading launch. “Canary Capital will be first to market,” Geraci said, adding that its XRP ETF would be the sixth single crypto asset in the ETF wrapper after Bitcoin (BTC), Ether (ETH), Solana (SOL), Litecoin (LTC) and Hedera (HBAR).

Industry Observers' Optimism and Cautions

Other industry observers, including Crypto America’s Eleanor Terrett, shared optimism on X, noting that Nasdaq had “cleared XRPC for launch at market open” on Thursday, but some cautioned that the exchange’s letter is procedural and does not itself authorize trading.

Procedural Certification vs. Final Approval

“The Nasdaq letter itself does not say the ETF is effective — it only says Nasdaq approved the listing and joined the registrant’s request for SEC effectiveness,” one commentator wrote, adding that the certification is a “routine procedural letter, not confirmation that trading will start.”

The Anticipated Launch

Canary’s highly anticipated XRP ETF launch comes after weeks of speculation, with ETF experts such as Geraci predicting its debut two weeks ago. The potential launch follows closely on the heels of US President Donald Trump signing a bill on Wednesday to officially end the longest government shutdown in history.

Comparison to Other ETF Launches

While Bitcoin and Ether ETFs each began trading the day after their respective SEC approvals, newer ETFs such as Solana, Litecoin and Hedera launched the next day after their exchange listings under the regulator’s newly adopted procedures. With trading going live on Oct. 28, some ETF observers have suggested that these new crypto funds relied on “automatic effectiveness” provisions during the government shutdown.

Risk Warning: This article represents only the author’s views and is provided for informational purposes only. It does not constitute investment advice, investment research, or a recommendation to trade, nor does it represent the stance of the Markets.com platform. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients.

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Written by:

Noah Lee

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