The crypto community is preparing for the launch of the first spot XRP exchange-traded fund (ETF) after Nasdaq certified the listing of Canary Capital’s XRP ETF.
The Nasdaq Stock Market Exchange officially notified the U.S. Securities and Exchange Commission on Wednesday 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,” Eric Balchunas, senior ETF analyst at Bloomberg, wrote on X, adding: “Looks like the launch is going to happen tomorrow.”
While ETF watchers expect Canary’s Spot XRP (XRP) ETF to begin trading on Thursday, the SEC has not yet issued its final approval to begin trading, making the market debut uncertain.
Sixth single crypto asset ETF
Nate Geraci, president of Novadius Wealth Management, told X on Thursday that Canary has launched its website for the Canary XRP ETF, highlighting a trading launch coming soon.
“Canary Capital will be first to market,” Geraci said. He said its XRP ETF will be the sixth single crypto asset in the ETF wrapper after Bitcoin (BTC), Ether (ETH), Solana (SOL), Litecoin (LTC) and Hedera (HBAR).
Other industry observers, including Crypto America’s Eleanor Terrett, shared optimism on
Connected: Canary Capital filing signals spot XRP ETF set to launch this week
One commentator wrote, “The Nasdaq letter itself does not say that the ETF is effective – it only says that Nasdaq has approved the listing and that the SEC has joined the registrant’s request for effectiveness,” one commentator wrote, adding that the certification is a “routine procedural letter, not confirmation that trading will commence.”
Canary’s highly anticipated XRP ETF launch comes after weeks of speculation, with ETF experts like Geraci predicting its launch two weeks ago. The potential launch comes just after US President Donald Trump signed a bill on Wednesday to officially end the longest government shutdown in history.
While Bitcoin and Ether ETFs each began trading the day after their respective SEC approvals, newer ETFs like Solana, Litecoin, and Hedera launched the day after their exchange listings under the regulator’s newly adopted procedures.
With trading going live on October 28, some ETF observers have suggested that these new crypto funds were relying on “automatic effectiveness” provisions during the government shutdown.
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