Canary Capital’s XRP ETF Set to Launch After SEC Filing Approval

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TLDR

Canary Capital filed a Form 8A with the SEC, signaling the potential launch of the first US-based spot XRP ETF this week.
The filing is the final step before the ETF can go effective, with Nasdaq certifying the listing by 5:30 PM ET Wednesday.
The first spot XRP ETF will likely launch at market open on Thursday if the certification is completed on time.
Other firms, including 21Shares and ProShares, are preparing similar spot XRP ETFs, according to the Depository Trust and Clearing Corporation.
The price of XRP has risen 10% over the past week, driven by anticipation of the ETF’s launch.

Canary Capital’s filing could bring the first US-based spot XRP ETF to market this week. The firm filed a Form 8A with the SEC, which is required before securities are offered. This filing points to a potential launch by Thursday, according to Bloomberg’s Eric Balchunas.

Key Filing Clears Way for XRP ETF Launch

The filing, made on Monday, marks the final step before the ETF goes effective. Canary Capital must now wait for Nasdaq to certify the listing before 5:30 PM ET Wednesday. Crypto reporter Eleanor Trent confirmed that the final hurdle would be cleared by this time, allowing the XRP ETF to launch at market open on Thursday.

This move comes after growing anticipation in the XRP community. The firm’s filing under the Securities Act of 1933 enables the ETF to directly hold XRP. Other ETFs have previously launched, but those invested in companies that hold XRP offshore, not directly in the asset.

Canary filed 8A for XRP ETF last night, which points to launch tomorrow or Thursday (today is holiday). 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.. pic.twitter.com/gVt9c3psmu

— Eric Balchunas (@EricBalchunas) November 11, 2025

XRP Price Surges Ahead of Launch

As anticipation builds, the price of XRP price has risen 10% over the past seven days. It currently sits at $2.40, according to CoinGecko. The upcoming launch of the first spot XRP ETF has driven increased market interest and optimism.

Canary Capital’s filing signals that other firms are also preparing to launch similar products. The Depository Trust and Clearing Corporation (DTCC) lists other spot XRP ETFs in the pipeline. Firms such as 21Shares, ProShares, and Bitwise are among those looking to follow suit.

The growing demand for XRP-related ETFs reflects the increasing interest in crypto-based financial products. As more ETFs launch, competition will likely heat up in the coming weeks. Canary Capital’s ETF could set the stage for a new wave of XRP-based investment options for US investors.