The crypto neighborhood is bracing for the launch of the primary spot XRP exchange-traded fund (ETF) after Nasdaq licensed the itemizing of Canary Capital’s XRP ETF.
The Nasdaq Inventory Market alternate on Wednesday formally notified the US Securities and Trade Fee that it has acquired the Kind 8‑A submitting for the Canary XRP ETF (XRPC).
“The official itemizing discover for XRPC has arrived from Nasdaq,” Bloomberg’s senior ETF analyst Eric Balchunas wrote on X, including: “Seems to be like tomorrow is on for the launch.”
Whereas ETF watchers count on Canary’s spot XRP (XRP) ETF to debut buying and selling on Thursday, the SEC has but to situation its ultimate approval for buying and selling to begin, leaving the debut unsure heading into the market open.
The sixth single crypto asset ETF
Nate Geraci, president of NovaDius Wealth Administration, took to X on Thursday to report that Canary had launched its web site for the Canary XRP ETF, highlighting the possible soon-to-come buying and selling launch.
“Canary Capital might be first to market,” Geraci stated, including that its XRP ETF could be the sixth single crypto asset within the ETF wrapper after Bitcoin (BTC), Ether (ETH), Solana (SOL), Litecoin (LTC) and Hedera (HBAR).
Different business observers, together with Crypto America’s Eleanor Terrett, shared optimism on X, noting that Nasdaq had “cleared XRPC for launch at market open” on Thursday, however some cautioned that the alternate’s letter was procedural and doesn’t authorize buying and selling.
Associated: Canary Capital submitting indicators spot XRP ETF set for launch this week
“The Nasdaq letter itself doesn’t say the ETF is efficient — it solely says Nasdaq accredited the itemizing and joined the registrant’s request for SEC effectiveness,” one commentator wrote, including that the certification is a “routine procedural letter, not affirmation that buying and selling will begin.”
Canary’s extremely anticipated XRP ETF launch comes after weeks of hypothesis, with ETF consultants akin to Geraci predicting its debut two weeks in the past. The potential launch follows carefully on the heels of US President Donald Trump signing a invoice on Wednesday to formally finish the longest authorities shutdown in historical past.
Whereas Bitcoin and Ether ETFs every started buying and selling the day after their respective SEC approvals, newer ETFs akin to Solana, Litecoin and Hedera launched the subsequent day after their alternate listings beneath the regulator’s newly adopted procedures.
With buying and selling going dwell on Oct. 28, some ETF observers have instructed that these new crypto funds relied on “automated effectiveness” provisions throughout the federal government shutdown.
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