The crypto community is preparing to launch the primary spot XRP exchange-traded fund (ETF) after Nasdaq confirmed the listing of Canary Capital's XRP ETF.
The Nasdaq exchange officially notified the U.S. Securities and Exchange Commission on Wednesday that it has received Form 8-A for the Canary XRP ETF (XRPC).
“The official listing notice for XRPC has arrived from Nasdaq,” wrote Bloomberg senior ETF analyst Eric Balchunas on
While ETF watchers expect the Canary Islands spot XRP ETF (XRP) to start trading for the primary time on Thursday, the SEC has yet to provide its final approval to start trading, leaving the launch uncertain.
The sixth single crypto asset ETF
Nate Geraci, president of NovaDius Wealth Management, reported on X on Thursday that Canary had launched its website for the Canary
“Canary Capital will probably be first to market,” Geraci said, adding that its XRP ETF could be the sixth individual crypto asset within the ETF wrapper after Bitcoin (BTC), Ether (ETH), Solana (SOL), Litecoin (LTC) and Hedera (HBAR).
Source: Eric Balchunas
Other industry observers, including Eleanor Terrett of Crypto America, expressed optimism about it
“The Nasdaq letter itself doesn’t state that the ETF is effective – it simply states that Nasdaq has approved the listing and agreed to the registrant’s request for SEC effectiveness,” one commenter wrote, adding that the certification was a “routine procedural letter and never a confirmation that trading will begin.”
Canary's highly anticipated XRP ETF launch comes after weeks of speculation, with ETF experts like Geraci predicting the debut two weeks ago. The possible launch comes on the heels of US President Donald Trump signing a bill on Wednesday that will officially end the longest government shutdown in history.
While Bitcoin and Ether ETFs each began trading the day after their respective SEC approval, newer ETFs reminiscent of Solana, Litecoin and Hedera began trading the subsequent day after their listing under the regulator's newly established procedures.
When trading began on October 28, some ETF watchers suspected that these latest crypto funds were counting on “automatic effectiveness” provisions through the government shutdown.
