- Canary Capital’s Form 8A filing marks the final step before the first U.S. XRP Spot ETF launch.
- The XRP ETF may start trading Thursday pending Nasdaq approval under the ticker XRPC.
- XRP price rose 10% to $2.40 as investors anticipate the ETF’s launch and institutional entry.
The long-awaited debut of the U.S.-based XRP Spot ETF may arrive this week. Canary Capital has filed Form 8A with the Securities and Exchange Commission (SEC), completing the last registration step before the launch. The move suggests the ETF could begin trading as early as Thursday once Nasdaq certifies its listing.
Countdown to XRP ETF Launch
Canary Capital submitted the Form 8A late Monday, formally registering its XRP Spot ETF under the Securities Act of 1933. The filing follows similar actions seen in other crypto ETFs, such as Hedera’s, which launched the day after submitting their Form 8A. “Not a done deal but all boxes being checked,” Balchunas noted, suggesting that the process is nearly complete.
Crypto reporter Eleanor Trent confirmed that the ETF will become effective once Nasdaq certifies its listing, which is expected at 5:30 p.m. ET on Wednesday. After approval, trading could begin Thursday at the market open under the ticker symbol XRPC.
The ETF will directly hold XRP rather than using an offshore entity, giving investors regulated and transparent exposure to the cryptocurrency. It will track the XRP-USD CF Benchmarks Reference Rate Index and carry a 0.50% annual management fee, which matches fees on other new crypto-based ETFs.
XRP Market Reacts and Institutional Interest Builds
The news of the filing has driven renewed optimism in the XRP market. The token’s price climbed to $2.40, gaining around 10% over the past week, according to CoinGecko data. This follows increased investor attention to XRP-related listings on the Depository Trust and Clearing Corporation (DTCC), where issuers such as Bitwise, Franklin Templeton, and CoinShares already have XRP-related products awaiting approval.
Canary Capital’s ETF represents a potential turning point for XRP within regulated U.S. markets. The move places XRP in the same category as Bitcoin and Ethereum, which already have spot ETFs trading in the country.
If the Thursday timeline proceeds as expected, the XRPC ETF will officially mark XRP’s entry into the U.S. exchange-traded fund landscape, bridging crypto markets with traditional finance and opening new avenues for institutional participation.
