Canary’s XRPC Spot XRP ETF Clears Nasdaq, Awaits SEC Order
Canary Capital has filed Form 8-A with Nasdaq for its XRPC spot XRP ETF. The listing under ticker XRPC clears a key procedural hurdle but still requires a final effectiveness order from the US Securities and Exchange Commission before trading can begin. If approved, the ETF will become the sixth single-asset crypto ETF in the US, joining existing funds tracking Bitcoin (BTC), Ether (ETH), Solana (SOL), Litecoin (LTC) and Hedera (HBAR). Canary Capital launched the ETF’s website in anticipation of an imminent debut, with analysts expecting trading to start at market open once the SEC signs off. This filing follows recent regulatory adjustments during the US government shutdown, where certain ETFs gained automatic effectiveness and began trading the next day. Traders now await confirmation on whether the XRPC spot XRP ETF will follow the same automatic route or require explicit SEC approval. Approval could boost XRP demand, increase market liquidity and open new avenues for institutional investors.
Bullish
The listing of the XRPC spot XRP ETF under ticker XRPC on Nasdaq, pending final SEC approval, represents a significant step toward mainstream institutional adoption of XRP. Short term, anticipation of trading approval could drive speculative buying, tightening supply and supporting upward price momentum. The precedent of automatic effectiveness for recent crypto ETFs suggests a rapid launch, which may further amplify market excitement and trading volumes. In the long term, an XRP ETF would broaden market access, enhance liquidity and attract institutional capital, all of which can underpin sustained price growth and lower volatility. However, final SEC confirmation remains a key risk; delays or rejection could temporarily weigh on sentiment. Overall, the ETF’s potential debut is a bullish catalyst for XRP.