Asset manager Canary Capital Group has updated its S-1 registration for a proposed spot XRP exchange-traded fund (ETF), removing the delaying amendment that previously gave the U.S. Securities and Exchange Commission (SEC) control over its launch timing. The move allows the registration to become automatically effective, paving the way for a potential debut next month.
According to journalist Eleanor Terrett, the change positions the Canary XRP ETF for a November 13 launch, pending Nasdaq’s completion of its Form 8-A review.
Terrett also cautioned that the timeline could shift depending on government operations and SEC activity — the ETF could launch earlier if approvals come through quickly or be delayed if the SEC issues additional comments before the effective date.
With the government reopening and regulators returning to full operations, momentum is building for a broader wave of spot crypto ETF approvals.
In the past week, both the New York Stock Exchange and Nasdaq have advanced plans to list several new digital-asset ETFs, including the Bitwise Solana ETF, Canary Capital Litecoin ETF, Canary HBAR ETF, and Grayscale Solana ETF.
What makes these developments particularly striking is their timing. Despite the SEC operating with a reduced staff during the government shutdown, issuers were still able to move forward by leveraging newly approved generic listing standards and the 20-day auto-effective rule, which allows ETFs to go live without waiting for formal SEC approval.
That same regulatory pathway now appears to be clearing the way for Canary Capital’s proposed XRP Spot ETF, which could mark another milestone in the rapid evolution of U.S. crypto investment products.
