Spot XRP ETF XRPC Gains SEC Approval, Nasdaq Launch Nov 13
Canary Capital’s spot XRP ETF (XRPC) received automatic SEC approval after filing Form 8-A on November 10. The ETF will list on Nasdaq under ticker XRPC and begin trading on November 13, with a 0.50% management fee tracking the XRP-USD CCIXber Reference Rate Index. News of the spot XRP ETF launch sent XRP’s price up 10% and trading volume rose 40% in 24 hours. Futures open interest also surged as traders anticipated the listing. Custody safeguards or SEC surveillance rulings could still delay the launch. Demand for regulated XRP exposure is rising: five spot XRP ETFs from Franklin Templeton, 21Shares, Bitwise, Canary and CoinShares are now listed on the DTCC, with Grayscale converting its XRP Trust and WisdomTree expected to follow. Market experts compare this launch to past spot Bitcoin and Ethereum ETFs and expect the new ETF to boost liquidity and drive further institutional participation in XRP.
Bullish
This news is bullish for XRP. Automatic SEC approval and a November 13 Nasdaq launch under ticker XRPC mark a major regulatory milestone, boosting market confidence. The 10% price jump, 40% surge in trading volume and higher futures open interest reflect strong short-term demand. Longer term, the entry of multiple spot XRP ETFs and planned conversions by Grayscale and WisdomTree will enhance liquidity and attract institutional capital, mirroring the positive effects seen after Bitcoin and Ethereum spot ETFs.