The crypto neighborhood is bracing for the launch of the primary spot XRP exchange-traded fund (ETF) after Nasdaq licensed the itemizing of Canary Capital’s XRP ETF.
The Nasdaq Inventory Market alternate on Wednesday formally notified the US Securities and Alternate Fee that it has obtained the Type 8‑A submitting for the Canary XRP ETF (XRPC).
“The official itemizing discover for XRPC has arrived from Nasdaq,” Bloomberg’s senior ETF analyst Eric Balchunas wrote on X, including: “Seems like tomorrow is on for the launch.”
Whereas ETF watchers count on Canary’s spot XRP (XRP) ETF to debut buying and selling on Thursday, the SEC has but to subject its ultimate approval for buying and selling to start, leaving the debut unsure heading into the market open.
The sixth single crypto asset ETF
Nate Geraci, president of NovaDius Wealth Administration, took to X on Thursday to report that Canary had launched its web site for the Canary XRP ETF, highlighting the seemingly soon-to-come buying and selling launch.
“Canary Capital might be first to market,” Geraci said, including that its XRP ETF can be the sixth single crypto asset within the ETF wrapper after Bitcoin (BTC), Ether (ETH), Solana (SOL), Litecoin (LTC) and Hedera (HBAR).
Different trade observers, together with Crypto America’s Eleanor Terrett, shared optimism on X, noting that Nasdaq had “cleared XRPC for launch at market open” on Thursday, however some cautioned that the alternate’s letter was procedural and doesn’t authorize buying and selling.
Associated: Canary Capital filing signals spot XRP ETF set for launch this week
“The Nasdaq letter itself doesn’t say the ETF is efficient — it solely says Nasdaq accredited the itemizing and joined the registrant’s request for SEC effectiveness,” one commentator wrote, including that the certification is a “routine procedural letter, not affirmation that buying and selling will begin.”
On Thursday, Canary Capital filed a Type 424B3 prospectus with the SEC for its spot XRP ETF, signaling one other step towards the fund’s imminent debut.
Canary’s extremely anticipated XRP ETF launch comes after weeks of hypothesis, with ETF specialists similar to Geraci predicting its debut two weeks ago. The potential launch follows intently on the heels of US President Donald Trump signing a invoice on Wednesday to officially end the longest government shutdown in historical past.
Whereas Bitcoin and Ether ETFs every started buying and selling the day after their respective SEC approvals, newer ETFs similar to Solana, Litecoin and Hedera launched the following day after their exchange listings under the regulator’s newly adopted procedures.
With buying and selling going stay on Oct. 28, some ETF observers have suggested that these new crypto funds relied on “automated effectiveness” provisions throughout the federal government shutdown.
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