Nasdaq Approves First XRP ETF (XRPC), Pending SEC Nod
Nasdaq has approved the Canary XRP ETF (ticker: XRPC) for listing, marking the first XRP ETF on a major exchange. The ETF, which tracks the XRP-USD CCIXber Reference Rate Index and charges a 0.5% annual fee, still requires final SEC registration before trading can commence, likely around November 12–13. It offers direct XRP price exposure through traditional brokerages without private key management, enhanced liquidity, and regulated tax reporting benefits. Aimed at institutional and retail investors, the XRP ETF launch could mirror Bitcoin ETF debuts, drawing fresh capital and increasing XRP market volatility.
Bullish
In the short term, the approval and potential launch of the first XRP ETF is likely to drive increased demand as investors seek regulated exposure, leading to higher trading volumes and upward price pressure. Historical parallels with Bitcoin ETF launches suggest a surge of capital and volatility at inception, typically bullish for the underlying asset. Over the long term, the ETF’s accessibility through traditional brokerages and institutional participation can enhance liquidity and market depth for XRP, supporting sustained price growth and broader adoption.