Canary Capital’s XRP ETF Set to Launch on November 13

Highlights:

• Canary’s XRP ETF could start trading on Nasdaq on November 13 after filing updates.
• The ETF may attract strong institutional demand and boost XRP’s price once launched.
• CEO Steven McClurg expects up to $10 billion in inflows, ranking among the top ETFs ever.

Asset manager Canary Capital’s XRP spot exchange-traded fund could start trading on Nasdaq on November 13. The company changed its S-1 registration statement with the U.S. Securities and Exchange Commission (SEC), which allows the ETF to become active without waiting for direct SEC approval under Section 8(a) of the 1933 Securities Act.

🚨SCOOP: @CanaryFunds has filed an updated S-1 for its $XRP spot ETF, removing the “delaying amendment” that stops a registration from going auto-effective and gives the @SECGov control over timing.

This sets Canary’s $XRP ETF up for a launch date of November 13, assuming the… pic.twitter.com/MKvEN23t5P

— Eleanor Terrett (@EleanorTerrett) October 30, 2025

FOX Business reporter Eleanor Terrett said that Canary removed the “delaying amendment” from its filing, which gives the ETF automatic approval once Nasdaq accepts the 8-A form. On X, she wrote, “CanaryFunds has filed an updated S-1 for its $XRP spot ETF, removing the ‘delaying amendment’ that stops a registration from going auto-effective and gives the SEC control over timing. This sets Canary’s $XRP ETF up for a launch date of November 13, assuming the Nasdaq greenlights the 8-A filing.”

SEC Approval Process and Possible Changes

Earlier this week, Solana (SOL), Litecoin (LTC), and Hedera (HBAR) ETFs were approved under the same quick process. Canary also added a new clause in its S-1 that allows the ETF to launch once Nasdaq completes the 8-A filing. Since the SEC gave no new comments, the firm does not need to wait for further review.

Terrett said that the reopening of the U.S. government could affect the launch date. A faster review might allow the ETF to start earlier, but more checks could slow it down. She added that SEC Chair Paul Atkins supports the auto-approval process and has welcomed other firms like Bitwise and MapLight that use the same rule for their ETFs.

Canary’s XRP ETF Could Spark Major Interest Ahead of Nasdaq Debut

Canary’s latest filing lets its XRP ETF start automatically after the 20 days end, without more action from the SEC. Some believe the ETF could bring strong demand from big investors and help XRP’s price, but many traders might wait until trading begins. Canary Capital CEO Steven McClurg said he expects large inflows. He mentioned that even if the ETF gets around $5 billion, it would still be a big success, and if it reaches $10 billion, it could rank among the top 10 or 20 ETFs ever.

The Canary XRP ETF will trade on Nasdaq and track the CoinDesk XRP CCIXber Reference Rate, which measures XRP trading across many exchanges. Gemini Trust Company and BitGo Trust Company will handle custody of the assets.

XRP continues to trade within a descending channel, but recent market activity points to an early recovery phase. The token is currently valued at $2.48, which shows mild selling pressure while maintaining stability within its existing range. A strong rebound from the $2.20 support level indicates renewed accumulation interest after weeks of market weakness. If the XRP ETF launch goes as planned and the price breaks above $2.70, analysts believe a move toward $3.60 could become more likely.