The long-anticipated XRP ETF is on the verge of becoming reality, with market excitement soaring as regulatory filings and Nasdaq approval signal the first-ever U.S. spot XRP fund could begin trading within days.
XRP ETF Nears Market Debut Wednesday or Thursday as Canary Races to Completion
The first spot XRP ETF in the United States is expected to launch on Wednesday or Thursday, boosting optimism across cryptocurrency markets after Canary Capital Group LLC filed a Form 8-A with the U.S. Securities and Exchange Commission (SEC) on Nov. 10. The filing formally registers the ETF’s shares with the SEC for listing on the Nasdaq Stock Market, the final step before trading can begin.
Bloomberg senior ETF analyst Eric Balchunas stated on social media platform X:
Canary filed 8A for XRP ETF last night, which points to launch tomorrow or Thursday (today is holiday).
He added: “Thursday was the day we thought they’d be on track for but when they did the 8A for HBAR they launched the next day. Not done deal but all boxes being checked. Stay tuned.” The HBAR ETF, referenced by Balchunas, was recently launched by Canary alongside its LTC ETF, reflecting the firm’s rapid expansion of cryptocurrency-based products. The success of these recently launched ETFs has reinforced expectations that the XRP ETF will follow a similar path to market.
Eleanor Terrett of Crypto in America believes the first U.S. spot XRP ETF will launch on Thursday. She wrote:
Canary Funds has filed its Form 8-A. This is the final step before it goes effective at 5:30 PM ET Wednesday once the Nasdaq certifies the listing. When that happens, the last hurdle is cleared and the first XRP spot ETF will be set to launch Thursday at market open.
Canary Capital CEO Steven McClurg stated last week: “We just launched our first two ETFs last week and hoping to launch an XRP ETF next week.” His remark underscores the company’s accelerating push into digital asset investment vehicles. Analysts believe the XRP ETF could drive institutional inflows, improve market liquidity, and advance the integration of cryptocurrencies into the regulated financial system.
FAQ ⏰
- When will the first U.S. XRP ETF begin trading? The XRP ETF is expected to launch on Wednesday or Thursday, pending Nasdaq certification following the SEC filing.
- Who is behind the XRP ETF launch? Canary Capital Group LLC is leading the ETF rollout after successfully launching and HBAR ETFs.
- What does the Form 8-A filing represent? The Form 8-A filing registers the ETF’s shares for Nasdaq listing, marking the final step before trading begins.
- How could the XRP ETF impact the market? Experts say the ETF could attract institutional investors, enhance liquidity, and strengthen crypto’s role in traditional finance.
Author: Kevin Helms
Source: Bitcoin
Reviewed By: Editorial Team
