The Canary XRP ETF has received Nasdaq approval for listing under ticker XRPC, paving the way for the first U.S. spot XRP fund to debut on November 13, 2025. This milestone allows investors access to XRP through traditional brokerage accounts, with projected inflows reaching $5 billion in the first month.
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Nasdaq’s listing notice confirms the Canary XRP ETF meets all exchange standards for immediate trading.
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SEC registration becomes effective at 5:30 PM ET on November 12, enabling market open on November 13.
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Canary CEO Steven McClurg forecasts $5 billion in inflows, highlighting strong institutional demand for regulated XRP exposure.
Discover the Canary XRP ETF launch details: Nasdaq approval unlocks the first U.S. spot XRP fund trading November 13. Explore impacts, fees, and projections for crypto investors seeking secure access.
What is the Canary XRP ETF and How Does It Work?
The Canary XRP ETF is a spot exchange-traded fund designed to provide investors with direct exposure to XRP, the cryptocurrency associated with Ripple, through standard brokerage platforms. Launched under the ticker XRPC on Nasdaq, it tracks the XRP-USD price via the CCIXber Reference Rate Index, allowing seamless trading like traditional stocks. With a 0.5% annual management fee, this fund represents a significant step in bringing regulated crypto products to U.S. markets, following approvals for similar Bitcoin and Ethereum ETFs.
How Has Nasdaq’s Approval Impacted the Timeline for XRP ETF Trading?
Nasdaq’s certification letter dated November 12, 2025, confirms that the Canary XRP ETF has satisfied all listing criteria, marking the final hurdle before public availability. This approval aligns with the SEC’s expected effective date for the fund’s registration at 5:30 PM ET on November 12, setting the stage for trading to commence at market open on November 13. According to reports from financial journalist Eleanor Terret at Fox Business, this rapid progression reflects collaborative efforts between Canary Capital and regulatory bodies, including SEC Chairman Paul Atkins and Commissioner Hester Peirce. Bloomberg ETF analyst Eric Balchunas has emphasized that such certifications typically lead to immediate trading post-SEC notice, underscoring the efficiency of the process. The fund’s structure under the Securities Act of 1933 distinguishes it as a pure spot product, unlike futures-based alternatives, providing unleveraged access to XRP’s spot price. This development comes amid a broader resurgence in crypto ETF approvals, with the Depository Trust & Clearing Corporation (DTCC) recently updating its records to include XRP-related products. Institutional interest remains high, as evidenced by Canary CEO Steven McClurg’s projection of $5 billion in inflows within the first month— a figure supported by historical data from Bitcoin ETF launches, which saw over $17 billion in net inflows shortly after debut. Experts note that the timing benefits from renewed federal oversight following a prolonged government shutdown, which had previously delayed similar filings. Overall, this approval not only validates XRP’s maturation as an asset class but also signals increasing regulatory comfort with digital assets in mainstream finance.
Frequently Asked Questions
What Does Nasdaq’s Approval Mean for Investors Interested in the Canary XRP ETF?
Nasdaq’s approval ensures the Canary XRP ETF complies with exchange rules, allowing it to trade under ticker XRPC starting November 13, 2025. Investors can buy shares through brokerage accounts, gaining spot exposure to XRP without direct crypto handling. This regulated vehicle reduces risks associated with unregulated exchanges, with a low 0.5% fee making it accessible for both retail and institutional participants.
When Will the Canary XRP ETF Start Trading and What Are the Expected Inflows?
The Canary XRP ETF is set to begin trading on November 13, 2025, right after the SEC registration goes effective at 5:30 PM ET the previous day. Canary CEO Steven McClurg anticipates around $5 billion in inflows during the first month, driven by pent-up demand from investors eager for a compliant way to access XRP in traditional markets.
Key Takeaways
- Nasdaq Listing Milestone: The approval of the Canary XRP ETF under ticker XRPC finalizes preparations for its November 13, 2025, debut, streamlining access to XRP for U.S. investors.
- Regulatory Collaboration: Support from SEC leaders like Chairman Paul Atkins and Commissioner Hester Peirce highlights evolving crypto regulations, differentiating this spot fund from prior futures products.
- Institutional Potential: Projected $5 billion inflows in the first month could boost XRP’s liquidity and price stability, encouraging broader adoption of digital asset ETFs.
Conclusion
The Nasdaq approval of the Canary XRP ETF represents a pivotal advancement for XRP in the U.S. financial landscape, enabling spot trading under ticker XRPC from November 13, 2025, and potentially attracting substantial inflows as forecasted by CEO Steven McClurg. This development, bolstered by regulatory insights from experts like Eric Balchunas, underscores the growing integration of cryptocurrencies into mainstream investment options. As the ETF launches amid a recovering federal oversight environment, investors are poised to benefit from enhanced accessibility and security in digital assets—stay informed on evolving crypto ETF opportunities to capitalize on this momentum.
Nasdaq Clears Listing as SEC Approval Nears
The certification from Nasdaq on November 12, 2025, verifies that the Canary XRP ETF adheres to all necessary standards for listing and public trading. This step prepares the ground for financial institutions and brokers to incorporate the product into their offerings once the SEC finalizes its registration effectiveness. The process, initiated with Canary’s recent filing, positions the fund for a swift market entry, reflecting the streamlined regulatory pathway for approved crypto products.
Financial reporting from Fox Business indicates that trading will initiate at the opening bell on November 13, contingent on the SEC’s 5:30 PM ET confirmation the day prior. Canary Capital’s collaboration with key SEC figures, including Chairman Paul Atkins and Commissioner Hester Peirce, has been instrumental in navigating the approval landscape. McClurg expressed enthusiasm for delivering the inaugural single-token spot XRP ETF, crediting regulatory support for the timely achievement.
Trading Structure and Market Details
Structured to mirror the XRP-USD CCIXber Reference Rate Index, the Canary XRP ETF offers investors precise tracking of XRP’s market value through conventional investment channels. Its 0.5% annual management fee is competitive within the ETF space, covering custody, administration, and index licensing expenses. Analyst Eric Balchunas from Bloomberg has observed that post-certification trading often commences without delay, aligning with precedents set by other spot crypto funds.
Unlike the REX-Osprey XRP ETF governed by the Investment Company Act of 1940, Canary’s offering operates under the Securities Act of 1933, affirming its status as a direct spot investment vehicle. This classification enhances its appeal to those seeking straightforward exposure without the complexities of derivatives. The fund’s design facilitates integration into diversified portfolios, potentially broadening XRP’s investor base beyond crypto enthusiasts.
Market Timing and Broader Context
The ETF’s rollout aligns with the resumption of full U.S. government functions after an extended shutdown that impeded routine regulatory activities. Legislative progress in the House Rules Committee on November 12, 2025, paves the way for operational normalization, including SEC reviews of pending applications. This context has expedited approvals like Canary’s, which were held in abeyance during the disruption.
Recent DTCC updates incorporating spot XRP listings further facilitate backend processing for trades. McClurg’s $5 billion inflow estimate draws from patterns observed in Bitcoin and Ethereum ETF debuts, where rapid capital accumulation demonstrated market appetite for compliant crypto gateways. As the first dedicated U.S. spot XRP fund, Canary’s ETF could catalyze similar growth, reinforcing XRP’s role in cross-border payments and institutional finance.
In the evolving crypto regulatory environment, this approval not only validates Canary Capital’s innovative approach but also signals maturity in the sector. Investors monitoring digital asset developments should note the ETF’s potential to influence XRP’s valuation and liquidity dynamics in the coming months.
