The first pure-play U.S. spot XRP ETF is on the verge of launching after Canary Capital Group LLC filed a Form 8-A with the Securities and Exchange Commission on November 10, officially registering the fund’s shares for listing on the Nasdaq Stock Market. Market participants anticipate the ETF will begin trading on Wednesday or Thursday, marking a milestone for XRP adoption in regulated financial markets.
Analyst Confirm Timeline
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 reference to the HBAR ETF — which Canary launched swiftly after its own 8-A filing — has reinforced expectations for a rapid XRP ETF debut. Canary previously launched both HBAR and LTC ETFs, demonstrating its aggressive push into cryptocurrency investment vehicles.
Eleanor Terrett of Crypto in America provided further clarity: “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 distinguished the Canary product as “the first pure-play 33 Act XRP ETF with 100% XRP, nothing else,” contrasting it with the REX-Osprey XRP ETF (XRPR), which operates under the Investment Company Act of 1940 and offers partial spot XRP exposure with less favorable tax treatment.
Canary CEO’s Remarks and Market Impact
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 statement underscores the company’s accelerating expansion into digital asset products. Industry analysts believe the XRP ETF could unlock significant institutional demand, enhancing XRP liquidity and further integrating cryptocurrencies into mainstream finance.
The launch follows a pattern set by earlier crypto ETFs for Bitcoin and Ethereum, which attracted billions in net inflows. XRP has already seen price appreciation in recent weeks as speculation around the ETF intensified. While the SEC has not fully resolved XRP’s regulatory status, the approval of a spot ETF signals a more accommodating stance toward digital assets.
With all regulatory boxes checked — including exchange listing approval and the 8-A filing — the Canary XRP ETF is expected to trade under a yet-to-be-disclosed ticker on Nasdaq. Investors and market participants are closely watching the debut, which could serve as a catalyst for further XRP adoption and price momentum.