The crypto community is bracing for the launch of the first spot XRP exchange-traded fund (ETF) after Nasdaq confirmed the listing of Canary Capital’s XRP ETF.
On Wednesday, the Nasdaq Stock Market Exchange officially notified the US Securities and Exchange Commission that it has received a Form 8-A filing for the Canary XRP ETF (XRPC).
“The official listing notice for XRPC comes from Nasdaq,” Bloomberg senior ETF analyst Eric Balchunas wrote on X.
Although ETF watchdogs expect Canary’s Spot XRP (XRP) ETF to begin trading on Thursday, the SEC has yet to issue its final approval for trading, adding uncertainty to the market.
Sixth Single Crypto Asset ETF
Nate Geraki, president of Novadis Wealth Management, reported at X on Thursday that Canary has launched its website for the Canary XRP ETF, highlighting an imminent trading launch.
“Canary Capital will be the first to market,” Jeraki said, adding that its XRP ETF would be the sixth single crypto asset in the ETF wrapper, after Bitcoin (BTC), Ether (ETH), Solana (Sola), Litecoin (LTC) and Hadera (Huber).
Other industry observers, including Eleanor Territt of CryptoAmerica, shared the optimism on X, saying that Nasdaq “cleared XRPC for launch at the market open” on Thursday, but some cautioned that the exchange’s letter is procedural and does not allow trading on its own.
Related: Canary Capital’s filing signals the Spot XRPETF is set for launch this week
“The Nasdaq letter itself does not say that the ETF is effective — it says that Nasdaq has approved the listing and acceded to the registrant’s request for effectiveness from the SEC,” one commenter wrote, adding that the certification is a “routine procedure letter, not a confirmation that trading will begin.”
Canary’s highly anticipated XRP ETF launch comes after weeks of speculation, with ETF experts such as Jeraki first predicting it two weeks ago. The potential launch comes on the heels of US President Donald Trump signing a bill on Wednesday to officially end the longest government shutdown in history.
While Bitcoin and Ether ETFs began trading the day after their SEC approval, new ETFs such as Solana, Litecoin and Hedra launched the next day after listing their exchanges under the regulator’s newly adopted procedures.
With trading going live on October 28, some ETF observers have suggested that these new crypto funds rely on “automatic effectiveness” provisions during the government shutdown.
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