Canary Capital is moving closer to launching the first spot XRP Exchange-Traded Fund (ETF) after submitting an updated S-1 filing with the U.S. Securities and Exchange Commission (SEC). The update removes the key “delaying amendment”, a clause that prevents automatic registration effectiveness. With this obstacle lifted, the ETF could go live as early as November 13, pending regulatory clearance.
The move comes after Canary Capital successfully introduced its Solana and HBAR ETFs earlier this week. Both were approved through the 8-A and CERT filings, mechanisms that allow ETFs to become effective within 20 days of submission without additional SEC intervention.
Market analyst Eleanor Terret noted that the timing depends on Nasdaq’s approval of the 8-A filing. However, the U.S. government’s operational status could still influence the schedule. If the SEC raises no objections during its review, the XRP ETF could debut sooner than expected.
“SEC Commissioner Paul S. Atkins has shown openness toward the auto-effective route during the shutdown,” Terret added, highlighting growing flexibility in regulatory oversight.
XRP ETF Could Boost Institutional Adoption
The crypto market has reacted positively to Canary’s filing, interpreting it as a milestone for Ripple’s XRP ecosystem. The recent success of the Rex-Osprey XRP ETF, which surpassed $100 million in assets within six weeks, demonstrates strong investor appetite for XRP-linked products.
Unlike traditional commodity trusts, Rex-Osprey operates under the ’40 Act structure, classifying it as an investment company. This structural distinction hasn’t deterred inflows—in fact, it underscores how diverse regulatory frameworks can still support digital asset innovation.
Bloomberg ETF strategist Eric Balchunas commented that the Canary filing marks a step closer to mainstream acceptance for XRP. Analysts believe that a fully approved ETF could push XRP prices toward $10, driven by institutional inflows and renewed retail enthusiasm.
Key factors driving interest in the XRP ETF:
- Removal of the SEC “delaying amendment” clears path for launch
- XRP’s strong investor base and prior ETF success
- Institutional demand for diversified crypto exposure
Billions Could Flow Into XRP Funds
Matt Hougan, Chief Investment Officer at Bitwise, predicts that the upcoming XRP ETF could attract over $1 billion in inflows within months of its debut. Speaking to DL News, Hougan said that XRP’s active investor community and high liquidity make it a strong candidate for rapid adoption, even amid broader market skepticism.
Currently, about 20 XRP ETF applications are awaiting SEC approval—just behind Bitcoin and Solana (23 each) and ahead of Ethereum (16), according to Bloomberg’s Balchunas.
As the November 13 date approaches, the market is watching closely. If approved, Canary’s XRP ETF could signal a turning point for digital asset integration on Wall Street, reshaping how institutional investors gain exposure to crypto markets.
