Canary Capital XRP Spot ETF Set for Trading on November 13th

 

Canary Capital is poised to launch what could become the first major U.S. spot ETF tied to XRP on November 13, 2025. The firm updated its S-1 registration to remove a delaying amendment that previously gave the U.S. Securities and Exchange Commission (SEC) indefinite discretion over timing. With that procedural hurdle cleared, the launch date now stands as scheduled, assuming final exchange filings are completed without new regulatory objections.

 

What changed in the filing

• The updated S-1 submission eliminates the “delaying amendment” that prevented automatic effectiveness under Section 8(a) of the Securities Act of 1933.

• Without that clause, the filing can become auto-effective after a 20-day waiting period unless the SEC raises substantial comments.

• With this obstacle removed, the fund is tracking toward a November 13 launch, contingent on approval of its Form 8-A listing with the Nasdaq Stock Market and final clearance from the exchange.

• The timing follows the same process used by other altcoin spot ETFs launched by Canary Capital, including products for Solana, Litecoin and Hedera. These also relied on the auto-effective mechanism.

 

Why it matters for XRP and the crypto market

• A spot ETF for XRP dramatically expands investor access by enabling exposure through standard brokerage accounts. Investors will not need self-custody or direct interaction with crypto exchanges.

• Institutional demand is expected to be significant. XRP has one of the largest global user bases in the digital asset sector. Many analysts believe the ETF could attract substantial inflows during its first months of trading.

• The launch arrives during a broader shift in U.S. regulatory policy. Regulators have recently approved generic listing standards for spot crypto ETFs, creating a path for assets other than Bitcoin and Ethereum.

• If the listing proceeds as planned, November 13 could become a landmark moment for altcoin investment products and a sign that regulated crypto ETFs are entering mainstream financial markets.

 

Launch mechanics and product details

• The ETF will trade on Nasdaq or another major U.S. exchange under a ticker that Canary Capital has not yet confirmed. Several filings suggest the ticker may be “XRPC.”

• The fund is structured as a Delaware statutory trust and will hold direct spot XRP. No futures or synthetic exposure will be used.

• Custodial providers and market makers are reportedly in place to support liquidity and orderly trading on the first day.

• The removal of the delaying amendment gives the fund a direct legal path to launch. Unless the SEC issues new comments, the product will go live automatically on the expected date.

 

Risks and remaining conditions

• Although the date is targeted and procedurally aligned, the launch still depends on final exchange filings such as Form 8-A and the absence of additional SEC review. Any new staff comments could delay effectiveness.

• The auto-effective pathway speeds up the process, but it does not guarantee that the SEC will not exercise its authority to halt or modify the filing.

• As with all crypto-related ETFs, the product carries risks such as volatility, liquidity fluctuations, custody risk and potential tracking differences between the ETF and spot XRP.

• High expectations may pose additional pressure. If initial trading performance does not meet market enthusiasm, sentiment could shift quickly.

 

What to watch next

• Official confirmation of the ETF ticker and the listing exchange.

• Announcements from authorized participants and liquidity providers, which will shape the ETF’s trading quality.

• Secondary market trading volume and creation-unit activity once the fund opens.

• XRP price action as markets react to the upcoming launch and investors position ahead of the date.

• Additional regulatory updates that may impact this ETF or future altcoin ETFs.

 

Final thoughts

Canary Capital’s spot XRP ETF represents one of the most significant steps yet toward expanding regulated crypto products beyond Bitcoin and Ethereum. If the ETF goes live on November 13, 2025, it will open the door for broader institutional involvement in XRP and potentially set the stage for additional altcoin ETFs.

For XRP holders, the launch could bring new sources of liquidity, price discovery and market legitimacy. For the industry at large, it signals a shift toward regulated access points for digital assets. Success, however, will depend on smooth execution, clear communication from regulators and strong market participation once trading begins.

 

All indicators suggest that the launch is on track. Unless regulators introduce unexpected changes, November 13 could become a historic date for crypto investment products.

 

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