The United States has approved its first regulated exchange-traded fund (ETF) tied to XRP, as Canary Capital receives green light from the SEC and finalizes preparations to launch the fund on Nasdaq under the ticker “XRPC”.
Key Takeaways
- Canary Capital’s XRP ETF has been approved by the SEC, marking the first XRP-backed ETF registered under U.S. securities law.
- The ETF is expected to begin trading on Nasdaq within days under the ticker symbol “XRPC”.
- Investor excitement is high, following the fund’s registration and the strong market interest in altcoin ETFs.
- XRP price and market activity responded positively, with analysts predicting significant institutional inflows.
What Happened?
Canary Capital filed its Form 8-A with the SEC on November 10, 2025, confirming registration of the ETF’s shares under the Securities Exchange Act of 1934. The approval builds on a previously filed S-1 prospectus and positions Canary’s XRP ETF as a regulated product accessible to U.S. investors. Trading on the Nasdaq is expected to begin within days, with the fund listed under the ticker “XRPC”.
BOOOOOOOOOOOOOOOOOOM!!!
— JackTheRippler ©️ (@RippleXrpie) November 11, 2025
The SEC has approved the first SPOT #XRP ETF in the United States of America.
Canary Capital Spot XRP ETF is finally ready to launch!
💥IT’S HAPPENING💥 pic.twitter.com/UI2S7PllLy
SEC Clears First XRP ETF for Nasdaq
After months of anticipation, Canary Capital’s XRP ETF is officially set to debut on Wall Street. The approval of Form 8-A signals that the U.S. Securities and Exchange Commission has completed its review and allowed the listing process to move forward.
Canary Capital CEO Steven McClurg signed the filing, which indicates that no further delays are expected. This regulatory milestone allows the fund to list shares publicly on Nasdaq and offer retail and institutional investors direct exposure to XRP through traditional brokerage platforms.
The fund will be managed by Canary Capital Group LLC and structured as a trust issuing shares of beneficial interest. These shares are designed to track the spot price of XRP, the fourth largest digital asset by market capitalization.
Fund Mechanics and Market Position
The XRPC ETF will charge a management fee of 0.50 percent and rely on established crypto custodians, including Gemini Trust Company and BitGo Trust Company, with US Bank and US Bancorp Fund Services handling cash and administrative operations.
The growing appetite for altcoin exposure has already been reflected in similar products. For example:
- The Rex-Osprey XRPR ETF, launched in September, raised $38 million on its first day and currently manages over $138 million.
- The Bitwise Solana ETF quickly ballooned to $500 million in assets within two weeks of launch.
Sumit Roy, a senior analyst at etf.com, said demand for crypto ETFs beyond Bitcoin and Ethereum is “very real,” pointing to Solana’s rapid growth as evidence that XRP-focused funds could also attract hundreds of millions in inflows.
XRP Market Reacts to ETF Approval
News of the ETF filing and approval has influenced XRP price movements. XRP experienced intraday gains of up to 8 percent following the filing, although it later dipped, showing a 3.5 percent decline over the next 24 hours. As of the latest data, XRP was priced at $2.40, still down more than 30 percent from its July peak of $3.65.
Despite the volatility, the market sees this ETF launch as a potential turning point for XRP’s mainstream adoption. With a market cap of around $146 billion, XRP remains among the top five cryptocurrencies, and this new fund could bring fresh interest from institutional investors wary of direct crypto exposure.
Canary’s Strategic Timing and Nasdaq Readiness
Reports confirm that Canary removed a delaying amendment from its S-1 filing, triggering a 20-day countdown to automatic effectiveness. That countdown ends this week, aligning with expectations that the XRPC ETF could begin trading as early as Wednesday or Thursday, pending Nasdaq’s final sign-off.
The move echoes previous successful ETF launches and underscores a broader trend of regulatory clarity in the U.S. crypto space. With over 90 crypto ETFs currently under SEC review, Canary’s launch may open the floodgates for additional altcoin funds.
CoinLaw’s Takeaway
In my experience tracking crypto ETF developments, this is a huge moment not just for XRP but for the broader altcoin market. The SEC’s approval of a fully regulated XRP ETF clears a major hurdle and sends a strong signal to institutions that regulated crypto investing is becoming the norm. I found it particularly interesting that Canary positioned this launch immediately after the success of Solana’s ETF. It feels like the crypto ETF space is finally getting the depth and diversity that many investors have been waiting for. If Canary’s XRPC sees strong early traction, we could see even more altcoin-based ETFs fast-tracked in the coming months. The crypto ETF market just leveled up.
