The crypto community is bracing for the launch of the first spot XRP exchange-traded fund (ETF) after Nasdaq certified the listing of Canary Capital’s XRP ETF.
The Nasdaq Stock Market exchange on Wednesday officially notified the US Securities and Exchange Commission that it has received the Form 8‑A filing for the Canary XRP ETF (XRPC).
“The official listing notice for XRPC has arrived from Nasdaq,” Bloomberg’s senior ETF analyst Eric Balchunas wrote on X, adding: “Looks like tomorrow is on for the launch.”
While ETF watchers expect Canary’s spot XRP (XRP) ETF to debut trading on Thursday, the SEC has yet to issue its final approval for trading to commence, leaving the debut uncertain heading into the market open.
The sixth single crypto asset ETF
Nate Geraci, president of NovaDius Wealth Management, took to X on Thursday to report that Canary had launched its website for the Canary XRP ETF, highlighting the likely soon-to-come trading launch.
“Canary Capital will be first to market,” Geraci said, adding that its XRP ETF would be the sixth single crypto asset in the ETF wrapper after Bitcoin (BTC), Ether (ETH), Solana (SOL), Litecoin (LTC) and Hedera (HBAR).
Other industry observers, including Crypto America’s Eleanor Terrett, shared optimism on X, noting that Nasdaq had “cleared XRPC for launch at market open” on Thursday, but some cautioned that the exchange’s letter is procedural and does not itself authorize trading.
Related: Canary Capital filing signals spot XRP ETF set for launch this week
“The Nasdaq letter itself does not say the ETF is effective — it only says Nasdaq approved the listing and joined the registrant’s request for SEC effectiveness,” one commentator wrote, adding that the certification is a “routine procedural letter, not confirmation that trading will start.”
Canary’s highly anticipated XRP ETF launch comes after weeks of speculation, with ETF experts such as Geraci predicting its debut two weeks ago. The potential launch follows closely 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 each began trading the day after their respective SEC approvals, newer ETFs such as Solana, Litecoin and Hedera launched the next day after their exchange listings under the regulator’s newly adopted procedures.
With trading going live on Oct. 28, some ETF observers have suggested that these new crypto funds relied on “automatic effectiveness” provisions during the government shutdown.
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