The cryptocurrency market is on the verge of another historic milestone. Canary Capital has submitted an updated filing to the U.S. Securities and Exchange Commission (SEC) for its XRP spot exchange-traded fund (ETF), officially named the Canary XRP Trust.
? BREAKING NEWS ?
The SEC has officially approved the first-ever Spot #XRP ETF in the United States! ??
Introducing the Canary Capital Spot XRP ETF, set to launch soon.? The moment the crypto world’s been waiting for is finally here! ? pic.twitter.com/mJaOheWTpS
— CryptoSensei (@Crypt0Senseii) November 11, 2025
If approved, the fund would become the first U.S.-listed spot XRP ETF, marking a landmark development for Ripple and for the institutional adoption of digital assets across Wall Street.
A New Era for XRP in Institutional Finance
This regulatory update confirms that the first spot XRP ETF is moving closer to launch. The structure would provide direct exposure to XRP’s market price without requiring investors to hold the token itself , which is a major advancement for integrating XRP into institutional investment portfolios.
The updated Form S-1 filing and the proposed listing on the Cboe BZX Exchange indicate that the fund has entered its final review phase. Analysts say the progress reinforces XRP’s credibility among hedge funds, asset managers, and banking partners.
If the SEC gives final approval, the Canary XRP Trust could be listed within weeks, joining Bitcoin and Ethereum ETFs as regulated digital asset products accessible to mainstream investors.
Ripple’s Comeback and the Rise of Altcoin Legitimacy
The development comes at a pivotal time for Ripple, which has recently scored several legal victories against the SEC over the classification of XRP. The company continues to expand its cross-border payments network via the XRP Ledger, positioning XRP as a cornerstone of blockchain-based financial infrastructure.
Ripple reportedly plans to support five XRP-based ETFs in total, signaling its commitment to bringing XRP into the regulated investment ecosystem.
Industry analysts view the potential XRP ETF as a turning point for altcoin adoption. Similar to Bitcoin’s trajectory, a spot XRP ETF could attract billions in institutional capital and significantly boost liquidity in the broader crypto market.
For Ripple, the approval would represent a symbolic comeback after years of regulatory challenges and for investors, it would mark another step toward Wall Street legitimizing alternative crypto assets.
Growing Competition in the ETF Landscape
With this filing, Canary Capital joins a growing list of financial firms racing to bring crypto ETFs to U.S. markets. Following the success of Bitcoin and Ethereum ETFs, XRP could become the third major digital asset to achieve a spot ETF listing.
Other firms, including 21Shares and CoinShares, are also developing similar products, creating a wave of competition and innovation within the regulated crypto investment space.
In the long run, the introduction of an XRP ETF could pave the way for spot ETFs based on Solana, Cardano, and other altcoins, accelerating the integration of blockchain assets into traditional finance.
