Spot XRP ETF Nears Launch After Canary Capital’s SEC Filing
Canary Capital has filed a Form 8-A registration with the US Securities and Exchange Commission for its spot XRP ETF. This SEC filing is the final regulatory step before the ETF can list on Nasdaq. If approved and certified by Nasdaq, the XRP ETF could begin trading as early as Thursday. It would be the first US-based fund to hold XRP directly under the 1933 Securities Act, unlike existing products that rely on offshore trusts. Analysts note the process mirrors the recent Hedera (HBAR) ETF launch, which went live one day after its 8-A filing. Other issuers, including 21Shares, ProShares, Bitwise and Franklin Templeton, have also filed spot XRP ETF applications with the DTCC. Investor anticipation has driven XRP prices up roughly 7% over the past week to $2.40. In parallel, attorney and XRP advocate John Deaton has announced a 2026 Senate campaign, a move that could influence future cryptocurrency regulation.
Bullish
The SEC filing for a spot XRP ETF signals imminent regulatory approval and direct market access, boosting institutional confidence. Short term, this news can drive further buying pressure as traders anticipate ETF listing and potential inflows. The comparison to the HBAR ETF launch suggests a swift timeline, which may accelerate XRP price rallies. Longer term, the entry of direct XRP ETFs could broaden market participation, improve liquidity, and pave the way for other crypto ETFs. John Deaton’s Senate campaign adds a regulatory angle, potentially enhancing policy clarity. Overall, these developments support a bullish outlook for XRP.