Nasdaq’s imminent launch of the first pure-play XRP ETF marks a defining moment for digital assets, with the Canary XRP ETF (XRPC) set to elevate XRP into the mainstream, expand institutional participation, and deepen liquidity across regulated U.S. markets.
XRP Market Braces for Surge as Nasdaq Prepares Historic XRPC Debut
A long-anticipated milestone in digital asset investing is about to unfold as Nasdaq prepares to list the first pure-play spot XRP exchange-traded fund (ETF), the Canary XRP ETF (ticker: XRPC), on Nov. 13. The launch, which investors have awaited for years, positions XRP alongside bitcoin, ethereum, and solana as part of the expanding class of spot-based digital asset funds in the United States.
“The official listing notice for $XRPC has arrived from Nasdaq. Looks like tomorrow is ON for the launch,” Bloomberg ETF analyst Eric Balchunas stated on social media platform X on Nov. 12. The listing follows the of Form 8-A with the U.S. Securities and Exchange Commission (SEC) on Nov. 10, the final regulatory step before trading can begin.
The filing for the XRP ETF, sponsored by Canary Capital Group LLC, classifies the fund as a pure-play product, designed to hold XRP with no derivatives, leverage, or futures exposure. Its valuation will track the Coindesk XRP CCIXber 60m New York Rate, a benchmark aggregating transactions from major XRP platforms.
Market anticipation has surged following the filing, with analysts and industry commentators describing it as the most advanced stage of XRP ETF development to date. Eleanor Terrett of Crypto in America clarified Tuesday the difference between the Canary XRP ETF and the Rex Osprey XRP ETF, stating that the former is “the first pure-play 33 Act XRP ETF with 100% XRP, nothing else,” while the latter “came first under the Investment Company (‘40) Act with partial spot XRP exposure and less efficient tax treatment.”
The trust’s XRP holdings will be custodied by Gemini Trust Company and Bitgo Trust Company, while U.S. Bancorp Fund Services and Paralel Distributors LLC will manage administration and compliance. Analysts expect the XRPC debut to boost liquidity, enhance institutional access, and accelerate the integration of digital assets into regulated U.S. markets.
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FAQ ⏰
- What is the Canary XRP ETF? It is the first pure-play U.S. spot XRP ETF, offering investors direct exposure to the digital asset without derivatives or leverage.
- When will the XRP ETF start trading on Nasdaq? The ETF is scheduled to begin trading on Nov. 13 under the ticker XRPC following regulatory clearance and listing certification.
- Who are the custodians for the XRP ETF? The holdings will be securely custodied by Gemini Trust Company and Bitgo Trust Company.
- Why is the XRP ETF launch significant? It marks a critical advancement for ’s institutional adoption, enhancing liquidity and integrating the asset into regulated financial markets.
Author: Kevin Helms
Source: Bitcoin
Reviewed By: Editorial Team
