SEC’s Chair seems to be on board with the statutory waiting loophole, enabling ETFs to see the light of day.
Canary Capital, the asset manager behind a flurry of major-cap altcoin exchange-traded funds (ETFs), just made a key amendment to the Canary XRP ETF. This Ripple coin’s price-tracking ETF pitch just got a potential launch date due to the change in Canary’s S-1 Form.
What Just Changed For Canary’s Ripple ETF Launch?
With the updated version going into effect immediately, Canary’s Ripple coin (XRP) ETF could launch as soon as November 13, 2025. This projection is based on the assumption that NASDAQ greenlights the 8-A filing in a similar way to the hedge fund’s HBAR & LTC applications.
As noted by Journalist Eleanor Terrett, this key date could see additional impact with the United States government restarting their services. If the rumoured government restart kicks in soon enough, Canary’s Ripple ETF pitch could be moved up to start trading below this date, but there’s also a risk of SEC wanting additional comments, which could drag the ETF pitch further.
All in all, the likelihood of Canary Capital using the 20-day statutory waiting period to their advantage is pretty huge, as the United States Securities and Exchange Commission’s (SEC) chair Pault Atkins mentioned yesterday he was completely fine with tech companies like MapLight using this legal loophole, the same method Bitwise & Canary carried out last week.
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