Canary Capital Sets Stage for Spot XRP ETF Launch on November 13
The crypto market might welcome a spot XRP (XRP) exchange-traded fund (ETF) on November 13 as asset supervisor Canary Capital has eliminated the delaying modification from its S-1 registration.
This step follows every week of profitable altcoin ETF launches, together with merchandise for Solana, Litecoin, and Hedera, suggesting a wider regulatory acceptance of digital asset funding autos.
Canary XRP ETF Targets November Launch
In a current submit on X (previously Twitter), journalist Eleanor Terrett reported that Canary Capital up to date its S-1 submitting for the spot XRP ETF by eradicating the “delaying modification.”
Essentially, this modification permits the SEC to manage the timing of effectiveness by stopping a registration assertion from changing into mechanically efficient. Without it, the submitting will mechanically take impact after a 20-day ready interval below Section 8(a) of the Securities Act of 1933, except the SEC points additional feedback or takes different motion.
Thus, by eradicating the delaying modification, Canary Funds might see its ETF launch on November 13. However, it’s contingent on Nasdaq’s 8-A approval.
“Interesting.. Altho XRP docs didn’t have the identical feedback back-and-forth with the SEC that Solana had. That was one purpose issuers was felt they had been prepared. But hey, price a strive I suppose,” Bloomberg’s Eric Balchunas said.
Terrett added that the decision of the government shutdown might affect the timeline. It might probably delay the method if the SEC employees decides to problem new feedback on the submitting, or, conversely, expedite approval if the evaluate is already full and no additional revisions are required.
“The SEC Chair himself appears to be on board with firms profiting from the auto-effective methodology. While not commenting instantly on the ETF launches, @SECPaulSAtkins mentioned yesterday he was happy to see firms like MapLight utilizing the 20-day statutory ready interval to go public through the shutdown, praising the identical authorized mechanism Bitwise and Canary used to launch their SOL, HBAR and LTC ETFs this week,” she noted.
ETF Race Heats Up: SOL Leads, XRP May Be Next
Canary’s newest submitting comes following a surge in (*13*) this week. Bitwise and Canary launched their Solana, Litecoin, and Hedera ETFs utilizing the identical auto-effective course of.
As BeInCrypto reported, Bitwise’s Solana ETF (BSOL) set a file with $56 million in first-day buying and selling quantity. On the second day, BSOL reached $72 million in quantity, highlighting elevated institutional demand for regulated altcoin merchandise.
Litecoin and HBAR ETFs followed with comparatively modest exercise. HBAR recorded $8 million in first-day trades, whereas Litecoin noticed $1 million.
Notably, prospects for an XRP ETF seem optimistic given the efficiency of earlier merchandise. REX-Osprey’s XRPR, which launched in mid-September 2025, has attracted notable demand.
On launch day, XRPR logged $24 million in quantity throughout the first 90 minutes, 5 occasions the amount of earlier XRP-based futures contracts. Moreover, by late October, XRPR topped $100 million in assets below administration. Therefore, if an XRP ETF is launched, it’s more likely to entice robust curiosity.
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