Canary Capital has cleared the final regulatory hurdles for the first U.S. spot XRP exchange-traded fund (ETF), with trading expected to begin as early as Thursday, November 13, 2025, on Nasdaq under the ticker XRPC.

The Form 8-A was filed with the US SEC on November 10 and is the final step before the XRP ETF launch. The spot XRP ETF is reportedly auto-effective and will likely begin trading this week.

Nasdaq has already approved the listing of Canary XRP ETF shares on the exchange under the ticker symbol “XRPC” and has said that a description of the shares is contained in the trust’s “registration statement on Form S-1, filed with the Securities and Exchange Commission on or about October 24, 2025.”

XRP ETFs are about to launch 

News of the potential XRP ETF launch has generated an immediate buzz on CT. The XRP token also reacted positively to the news, pumping by as much as 10%. 

Trading volume and futures open interest have also surged in the last few days amid anticipation of the Canary XRP ETF launch and the possibility of the US government shutdown ending.

At the time of this writing, the price is trading at $2.43, and trading volume has increased by 40% in the last 24 hours, indicating interest among traders.

Until the Canary Capital spot XRP ETF launches, traders will be closely monitoring the XRP price.

There could still be last-minute comments, for example, on custody or surveillance, that might push the listing to December or later. 

Experts such as Nate Geraci see the XRP ETF launch as a big win for Ripple after many previous bouts with past anti-crypto regulators. Thought leaders like the Canary Capital CEO Steven McClurg expect the ETF to outperform Solana’s first week. He spotlighted demand in XRP as evident from market cap and trading volumes.

There is a growing demand for XRP products 

So far, five spot XRP ETFs have been listed on the Depository Trust and Clearing Corporation (DTCC), including offerings from Franklin Templeton, Bitwise, and CoinShares, with a potential US launch expected this month.

The listed funds are Franklin XRP Trust (XRPZ), 21Shares XRP ETF (TOXR), Bitwise XRP ETF (XRP), Canary XRP ETF (XRPC), and CoinShares XRP ETF (XRPL).

With more issuers stepping up their execution timelines, market observers are now expecting to see WisdomTree’s XRP ETF join competing funds on DTCC.

Amid the growing wave of filings, Grayscale is also seeking to launch its spot XRP ETF through a conversion of its existing XRP Trust, which has achieved approximately $14 million in assets under management since its rollout last September.

With all that interest, it is no surprise that Solana and XRP futures have emerged as CME Group’s fastest-growing crypto products, a success that reflects increased market participation, which is sure to translate into greater price moves for the XRP token.

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