The cryptocurrency industry is closely following the possible launch of the first spot XRP exchange-traded fund (ETF), following Nasdaq's approval of the listing of Canary Capital's XRP ETF. Analysts believe the product could begin trading as early as today, highlighting both growing institutional interest and prospects for increased market participation.
In brief
- Analysts expect Canary Capital's first US spot XRP ETF to begin trading today, following Nasdaq's approval of the listing, subject to final clearance from the SEC.
- Other XRP ETFs, offered by Franklin Templeton, Bitwise, 21Shares, CoinShares, Grayscale and WisdomTree, are expected to launch later this month.
Nasdaq confirms ETF listing
Speculation surrounding the XRP ETF intensified on Wednesday, when Nasdaq informed the SEC that it had received a Form 8-A 12(b) application for Canary's XRP ETF (XRPC). Along with this filing, the exchange confirmed that the ETF has been approved for listing and registration, pending the official release of the notice.
Analysts reacted quickly. Eric Balchunas, senior ETF analyst at Bloomberg, noted on X that the official listing notice indicated a potential launch as early as today. Financial commentator Nate Geraci also noted that the site dedicated to the ETF had been activated, a sign that the start of trading could be imminent.
Despite this enthusiasm, final approval from the SEC is still pending, which makes the exact launch date still uncertain. Analysts specify that the Nasdaq opinion is above all procedural : it confirms the support of the exchange and the filing with the SEC, without constituting an immediate authorization to trade. Other regulatory steps may therefore be necessary before opening for trading.
Planned Launches and Institutional Interest in XRP
Financial commentator Paul Barron detailed the expected schedule as well as the management fees for the various XRP ETFs likely to arrive on the market:
- Canary's ETF is set to launch on November 13, with fees of 0.50%.
- That of Franklin Templeton would be expected between November 14 and 18.
- Bitwise Invest would target a window around November 19–20, with the lowest fees, at 0.34%.
- 21Shares and CoinShares would be expected between November 20 and 22,
- followed at the end of the month by Grayscale (0.35%) and WisdomTree.
After several weeks of speculation, the anticipated launch of the XRP ETF received new momentum after President Donald Trump signed legislation ending the longest government shutdown in U.S. history, even as market watchers still awaited approval from the SEC.
As a reminder, the first crypto ETFs, such as those based on Bitcoin and Ether, began trading the day after their approval by the SEC. More recently, the Solana, Litecoin and Hedera ETFs also became tradable within a day of their listing, under updated regulatory procedures, illustrating the current trend for crypto ETF listings.
The news around the Canary ETF already seems to be weighing on the market: over the last 24 hours, XRP has gained more than 2%, reflecting increased investor optimism as the scheduled start of trading approaches.
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