XRP ETF Countdown Begins as Canary Capital Targets Thursday Launch
Canary Capital has filed Form 8-A with the SEC, setting the stage for the primary spot XRP ETF to launch on November 13, pending approval from Nasdaq.
The transfer marks a significant step in increasing regulated crypto ETFs past Bitcoin and Ethereum. It additionally alerts rising institutional acceptance of altcoins.
Canary Pushes XRP Toward Wall Street
The submitting follows Canary’s earlier decision to remove the “delaying amendment” from its S-1 registration. This motion triggered the auto-effective route beneath Section 8(a). It permits the registration to go reside robotically after 20 days until the SEC objects.
Market analysts see the 8-A submitting as the ultimate regulatory hurdle earlier than buying and selling begins. The fund is anticipated to launch on the market open on November 13. It contributes to the rising wave of altcoin ETFs, which has revived curiosity in digital belongings.
This improvement follows every week of profitable altcoin ETF launches. Products for Solana, Litecoin, and Hedera have strengthened confidence in crypto-based funding autos. These strikes counsel broader regulatory consolation with digital asset merchandise.
A spot XRP ETF would let each retail and institutional traders achieve publicity to the token with out holding it instantly. This reduces issues about custody and trade danger.
It additionally highlights the rising acceptance of digital belongings past Bitcoin and Ethereum. The success of current altcoin ETF launches confirms this broader curiosity.
Institutional Appetite For Altcoins Grows
Canary’s newest submitting comes following a surge in altcoin ETF launches this week. Bitwise and Canary launched their Solana, Litecoin, and Hedera ETFs utilizing the identical auto-effective course of.
As BeInCrypto previously reported, Bitwise’s Solana ETF (BSOL) set a report 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 products.
Litecoin and HBAR ETFs adopted with comparatively modest exercise. HBAR recorded $8 million in first-day trades, whereas Litecoin saw $1 million.
Notably, prospects for an XRP ETF seem constructive 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 inside the first 90 minutes, 5 instances the amount of earlier XRP-based futures contracts. By late October, XRPR topped $100 million in belongings beneath administration.
This efficiency highlights the rising institutional curiosity in regulated XRP publicity. It additionally units high expectations for Canary’s upcoming launch.
However, the launch nonetheless depends upon Nasdaq’s remaining approval. Experts warn that XRP’s value could not rise sharply if traders have already priced within the information. Even so, Canary’s progress reveals that altcoin ETFs are steadily gaining legitimacy in conventional finance.
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