Canary Capital’s XRP fund may debut Thursday amid pending SEC clearance
The U.S. crypto market is on high alert as Canary Capital’s spot XRP ETF inches closer to launch. Following Nasdaq’s official listing certification, industry analysts anticipate that trading for the Canary XRP ETF (XRPC) could begin as early as Thursday, despite the Securities and Exchange Commission (SEC) yet to issue final approval.
Nasdaq Certifies Canary XRP ETF Listing
On Wednesday, Nasdaq submitted a Form 8-A filing to the SEC confirming the registration of the Canary XRP ETF, marking a pivotal milestone for the digital asset. “The official listing notice for XRPC has arrived from Nasdaq,” said Bloomberg ETF analyst Eric Balchunas, who added that “it looks like tomorrow is on for the launch.”
Although the listing certification signals readiness, the SEC must still formally authorize trading. Analysts warn that while Nasdaq’s notice appears promising, it may be a procedural step rather than an approval to begin trading.
If the launch proceeds, Canary’s product will become the sixth U.S. spot crypto ETF, following similar funds for Bitcoin, Ether, Solana, Litecoin, and Hedera. Nate Geraci, president of NovaDius Wealth Management, noted, “Canary Capital will be first to market with XRP, adding another major crypto asset to the ETF ecosystem.”
Geraci also confirmed that Canary has launched its official ETF website, a sign that preparations for immediate trading are underway. The move reflects growing institutional appetite for regulated crypto exposure amid an increasingly crypto-friendly policy environment.
Community Reaction and Market Implications
Industry commentators have expressed mixed expectations. Eleanor Terrett, a prominent market observer, reported that Nasdaq has “cleared XRPC for launch at market open,” while others cautioned that the exchange’s letter does not guarantee trading effectiveness.
ETF experts suggest the launch could mirror earlier rollouts where Bitcoin and Ether ETFs began trading the day after SEC approval, while newer products—such as Solana and Litecoin ETFs—went live following exchange certification under automatic effectiveness rules introduced during the recent U.S. government shutdown.
If trading begins Thursday, the Canary XRP ETF will mark a historic expansion of the U.S. spot crypto ETF market, granting investors exposure to another top-tier digital asset through a regulated vehicle. The final decision now rests with the SEC, whose sign-off will determine whether XRP joins the ranks of officially tradable U.S. crypto ETFs.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.