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Wednesday Nov 12 2025 02:20
1 min
The U.S. market could witness the launch of its first exchange-traded fund (ETF) that directly holds XRP as early as this week. This follows crypto investment firm Canary Capital filing essential documents for its proposed fund.
Eric Balchunas, senior ETF analyst at Bloomberg, noted that Canary had submitted a Form 8A to the Securities and Exchange Commission (SEC). This form is a prerequisite before securities can be offered on an exchange.
Balchunas suggested that the filing “points to launch tomorrow or Thursday.” He further added, “Not [a] done deal but all boxes being checked. Stay tuned.”
Crypto reporter Eleanor Trent stated that Canary's filing was "the final step before it goes effective… once the Nasdaq certifies the listing.”
Canary’s ETF is filed under the Securities Act of 1933, allowing it to directly hold XRP, distinguishing it from other products that invest in offshore entities holding the cryptocurrency.
Anticipation has been building within the XRP community following the resolution of the government shutdown, with the first spot XRP ETF seen as a significant milestone.
With the government operational again, the path is cleared for numerous potential ETF launches.
Alongside Canary, the Depository Trust and Clearing Corporation (DTCC) lists several other spot XRP ETFs awaiting approval. These firms include 21Shares, ProShares, Bitwise, Volatility Shares, REX-Osprey, CoinShares, Amplify, and Franklin Templeton.
The price of XRP has experienced a 10% increase over the past week, reaching $2.40 at the time of this report, according to CoinGecko data.
Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients.
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