The first pure-play spot XRP exchange-traded fund (ETF) in the United States is on the verge of launching after Canary Capital Group LLC filed a Form 8-A with the SEC on November 10, formally registering the ETF’s shares for listing on the Nasdaq Stock Market. This filing represents the final regulatory step before trading can commence.
Analysts Confirm: Launch Window Opens Wednesday or Thursday
Bloomberg senior ETF analyst Eric Balchunas posted on X: “Canary filed 8A for XRP ETF last night, which points to launch tomorrow or Thursday (today is holiday).” He added: “Thursday was the day we thought they’d be on track for but when they did the 8A for HBAR they launched the next day. Not done deal but all boxes being checked. Stay tuned.” The HBAR ETF, launched by Canary alongside its LTC ETF earlier, set a precedent for rapid market entry.
Eleanor Terrett of Crypto in America expects the first pure-play spot XRP ETF to debut on Thursday. She wrote: “Canary Funds has filed its Form 8-A. This is the final step before it goes effective at 5:30 PM ET Wednesday once the Nasdaq certifies the listing. When that happens, the last hurdle is cleared and the first XRP spot ETF will be set to launch Thursday at market open.” She clarified that Canary’s product is “the first pure-play 33 Act XRP ETF with 100% XRP, nothing else,” contrasting with the earlier REX-Osprey XRP ETF (XRPR) which operates under the Investment Company Act of 1940 and provides only partial spot XRP exposure with less efficient tax treatment.
Canary Capital Accelerates Crypto ETF Rollout
Canary Capital CEO Steven McClurg stated last week: “We just launched our first two ETFs last week and hoping to launch an XRP ETF next week.” The firm has already successfully launched HBAR and LTC ETFs, reflecting its rapid expansion into digital asset investment vehicles. Analysts believe the XRP ETF could drive significant institutional inflows, enhance XRP market liquidity, and strengthen the integration of cryptocurrencies into regulated financial markets.
FAQ: Key Questions About the XRP ETF
- When will the first pure-play U.S. XRP ETF begin trading? Expected Wednesday or Thursday, pending Nasdaq certification after the SEC filing.
- Who is behind the launch? Canary Capital Group LLC, which previously launched LTC and HBAR ETFs.
- What does the Form 8-A filing represent? It registers the ETF’s shares for Nasdaq listing, the final step before trading begins.
- How could the XRP ETF impact the market? Experts say it could attract institutional investors, boost XRP liquidity, and reinforce crypto’s role in traditional finance.
With the 8-A filing complete, all eyes are on Nasdaq’s final certification. If successful, XRP will join Bitcoin and Ethereum as the third major cryptocurrency with a spot ETF in the U.S., offering regulated exposure to a new wave of investors.