- Canary Funds filed for Form 8-A for its XRP ETF (XRPC) with the U.S. SEC, marking the final step before trading begins.
- According to the DTCC list, several XRP ETFs are expected to launch in the second half of November
- XRP price struggles to sustain above $2.5 mark amid broader market correction
XRP, the native cryptocurrency of the XRP Ledger, slips over 4% during Tuesday’s U.S. market hours to trade at $2.425. The selling pressure can be attributed to a broader market pullback as Bitcoin price rejects from the $107,500 mark. While the risk of prolonged correction persists, the market participants are closely watching XRP price movement, as the cryptocurrency is likely to witness its first pure spot exposure this week.
Canary Files Registration for Spot XRP ETF Ahead of Expected Launch
A fresh filing made with the U.S. Securities and Exchange Commission hints that the first spot XRP exchange-traded fund (ETF) will launch this week. Canary Capital Group LLC filed a Form 8-A on November 10 for its Canary XRP ETF, listing on the Nasdaq Stock Market under the ticker “XRPC.”
Market analysts following the process of ETF approval said that Form 8-A generally appears just before an exchange certifies a listing. Once Nasdaq makes that step, the fund becomes effective automatically at 5:30 p.m. Eastern Time the same day. Bloomberg’s Eric Balchunas suggested the filing indicates a launch window between Wednesday evening and the market open on Thursday, following the pattern that saw the firm’s earlier HBAR product.
The registration comes on the heels of a number of procedural accelerations stemming from the recent U.S. government shutdown, which enabled multiple proposals for digital asset ETFs to proceed without undergoing extended SEC review.
Earlier, this cryptocurrency had futures-based or leveraged XRP ETFs (e.g., REX-Osprey XRPR) already trading since September 2025; however, the Canary’s filled ETF is a spot exposure. After the launch, the Canary XRP ETF would provide its investors with a regulated direct exposure to the price of XRP by holding the cryptocurrency itself.
The aforementioned filing is the last technical setup in listing approval before trading can begin. In recent months, several issuers have advanced their filing, with DTCC data showing operational readiness for up to nine separate spot XRP funds. Given below are some of the most imminent, according to the latest market data.
| Issuer | ETF Name/Type | Projected Launch Date | Exchange | Key Notes |
| Canary Capital | Spot XRP ETF (XRPC) | November 13 | Nasdaq | Canary Funds has filed its Form 8-A. This is the final step before the fund becomes effective by Wednesday, once Nasdaq certifies the listing |
| Franklin Templeton | Spot XRP ETF (XRPZ) | November 18 | CBOE | Updated its S-1 filing for its XRP ETF to remove the 8(a) clause, starting the automatic clock of 20 days. |
| 21 Shares | Spot XRP ETF (TOXR) | November 20–22 | TBD | Amendment No. 3 filed Nov 7 triggers 20-day review, effective ~Nov 27, but accelerates as per DTCC data |
| Bitwise | Spot XRP ETF | November 19–20 | TBD | Submits Amendment #4 to add NYSE listing and a 0.34% management fee; the analyst mentions the change as the final setup before launch. |
| CoinShares | Spot XRP ETF (XRPL) | November 20-22 | TBD | DTCC-listed (XRPL) as pre-launch; follows 21Shares/Bitwise in coordinated filings |
| Grayscale | XRP Trust Conversion (Spot) | ~November 25 | NYSE | Amendment No. 2 filed Nov 3 designates executives, and the End-of-month target from NYSE/DTCC prep is ~Nov 25 |
| WindowTree | Spot XRP ETF | ~November 25 | NYSE | DTCC prep complete; S-1 filed with no-delay path |
While the XRP price currently struggles amid a broader market correction, the potential launch of these ETFs could inject billions in institutional liquidity, bolstering its long-term bullish trajectory.
