The crypto community is eagerly awaiting the debut of the first U.S. spot XRP exchange-traded fund (ETF) following Nasdaq’s certification of Canary Capital’s XRP ETF listing.
On Wednesday, Nasdaq officially notified the U.S. Securities and Exchange Commission (SEC) that it had received the Form 8-A filing for the Canary XRP ETF (XRPC) — a key procedural step before trading can begin.
“The official listing notice for XRPC has arrived from Nasdaq,” Bloomberg senior ETF analyst Eric Balchunas announced on X (formerly Twitter), adding, “Looks like tomorrow is on for the launch.”
While many ETF analysts expect trading to start Thursday, the SEC has not yet given final clearance, leaving the launch timing uncertain until the market opens.
Sixth Single-Asset Crypto ETF
Nate Geraci, president of NovaDius Wealth Management, noted that Canary Capital has already launched its official website for the ETF — a signal that trading may begin imminently.
“Canary Capital will be first to market,” Geraci said, pointing out that the XRP ETF would mark the sixth single-crypto asset ETF to list in the U.S., following those tied to Bitcoin, Ether, Solana, Litecoin, and Hedera.
The move marks another milestone in the growing mainstream adoption of crypto-based investment vehicles — and could significantly boost institutional exposure to XRP if the launch proceeds as anticipated.
Industry watchers are expressing cautious optimism ahead of the potential launch of the Canary XRP ETF, as Nasdaq reportedly cleared the fund for trading at Thursday’s market open — though some analysts emphasize that the approval remains procedural.
Crypto America’s Eleanor Terrett noted on X (formerly Twitter) that Nasdaq had “cleared XRPC for launch at market open,” but other commentators warned that the exchange’s notice does not itself authorize trading.
“The Nasdaq letter doesn’t mean the ETF is effective — it simply confirms Nasdaq’s approval of the listing and its support for the issuer’s request for SEC effectiveness,” one analyst explained, calling the certification “a standard procedural step, not confirmation that trading will begin.”
The anticipated debut follows weeks of speculation, with ETF experts — including Nate Geraci — predicting the XRP ETF’s arrival nearly two weeks ago. The timing coincides with U.S. President Donald Trump’s signing of a bill to officially end the longest government shutdown in U.S. history, a move that could help expedite regulatory processing.
Historically, Bitcoin and Ether ETFs began trading the day after receiving SEC approval, while Solana, Litecoin, and Hedera ETFs went live the day following their exchange listings under the regulator’s updated procedures.
With trading expected to begin on October 28, several analysts suggest that the latest wave of crypto ETFs may be leveraging “automatic effectiveness” provisions introduced during the recent government shutdown — enabling launches even amid limited SEC activity.
