Canary Funds Targets Nov 13 Spot XRP ETF Auto-Launch
Canary Funds has amended its S-1 registration to trigger an automatic, 20-day Section 8(a) approval process for its Spot XRP ETF, eliminating the SEC’s discretionary delay clause. Pending Nasdaq approval of a Form 8-A listing, the fund could debut by November 13, 2025. The ETF will track the CoinDesk XRP CCIXber reference rate and employ Gemini Trust Company and BitGo Trust Company as custodians, with the fund listed on DTCC to bolster institutional access. Over 20 spot XRP ETF proposals are under SEC review, highlighting strong demand for regulated XRP products. Analyses of similar auto-effective filings for Solana (SOL), Hedera (HBAR) and Litecoin (LTC) ETFs suggest a faster approval path. If launched, the Spot XRP ETF could attract significant institutional inflows, improve liquidity and reduce volatility amid regulatory uncertainty.
Bullish
This news is bullish for XRP because the auto-effective approval mechanism and clear timeline reduce regulatory uncertainty, likely encouraging short-term buying ahead of the November 13, 2025 launch. Institutional custodian backing and DTCC listing further enhance credibility, potentially driving sustained inflows and improved liquidity over the long term. Historical precedents from Solana, HBAR, and Litecoin ETF auto-effective filings suggest accelerated approvals and positive price reactions, supporting a bullish outlook for XRP.