TLDR
- Canary Capital’s XRP ETF received regulatory approval and will begin trading on Nasdaq on November 13, 2025.
- The XRP ETF marks the first spot XRP ETF to be listed on a U.S. exchange, offering direct exposure to the digital asset.
- The SEC approved the registration using the auto-effective registration process, which sped up the approval timeline.
- The approval comes amid growing institutional demand for regulated cryptocurrency investment products.
- On-chain data shows mixed market sentiment, with whales reducing holdings while retail interest in XRP rises.
Canary Capital’s XRP exchange-traded fund (ETF) has received regulatory approval, with Nasdaq certifying the listing on November 12, 2025. The ETF, under the ticker symbol XRPC, will begin trading on November 13. It marks the first spot XRP ETF to be listed on a U.S. exchange.
SEC Approves Canary Capital’s XRP ETF Launch
On November 12, the Securities and Exchange Commission (SEC) officially approved the registration statement for Canary Capital’s XRP ETF. This approval follows the firm’s use of the auto-effective registration process under Section 8(a) of the Securities Act of 1933. By filing Form 8-A, the company triggered a 20-day window for automatic approval, provided the SEC did not object.
The approval process coincided with a government shutdown, which helped speed up the decision. The ETF will allow investors to gain direct exposure to XRP in a regulated market. This approval reflects growing institutional interest in cryptocurrency products, with more investors seeking regulated options for digital asset investments.
Canary Capital’s XRP ETF is the latest in a wave of altcoin ETFs, following similar products for Solana, Litecoin, and Hedera. These products show that institutional demand for regulated cryptocurrency investment is increasing. Analysts expect the XRP ETF to attract significant interest from large investors looking for a secure entry point into the market.
Nasdaq’s certification of the XRP ETF listing confirms that the asset will be available to trade on the exchange starting November 13. This marks a key milestone for XRP, as it transitions into the mainstream financial sector. Canary Capital’s product is the first of its kind, offering direct exposure to XRP without using derivatives such as futures contracts.
XRP Price Faces Uncertainty Before ETF Launch
Ahead of the XRP ETF launch, on-chain data reveals mixed market sentiment. According to Glassnode, over 216 million XRP, worth around $556 million, left exchanges before the announcement. This typically signals that investors are holding onto their assets, suggesting bullish sentiment.
However, larger holders, or “whales,” acted differently. They reduced their holdings by 10 million XRP in the two days leading up to the ETF’s launch. This profit-taking suggests some traders expect a “sell the news” scenario after the ETF begins trading.
Despite this, retail interest is increasing. Active XRP addresses reached three-month highs, indicating growing participation in the network. The Cumulative Volume Delta, which measures buying versus selling pressure, has recently turned bullish, indicating more buying than selling.
As of November 13, XRP price traded around $2.39, down 0.4% following the certification news. Analysts predict that XRP could rally to $5 by the end of 2025. This would represent a 108% increase from the current price level, driven by institutional inflows and reduced supply on exchanges.
The launch of the XRP ETF marks a pivotal moment for the asset, as it gains further acceptance in traditional financial markets. Investors are now waiting to see whether the initial excitement leads to sustained growth or if profit-taking dampens momentum. The outcome of the ETF launch could determine XRP’s price trajectory for the remainder of the year.
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