Canary XRP ETF Receives Automatic Approval for Nasdaq Listing
- Canary filed Form 8-A with the SEC on November 10, enabling auto-effective approval for its spot XRP ETF.
- The ETF is set to trade under the ticker symbol “XRPC” on Nasdaq, with trading expected to begin later this week.
- XRP has seen a nearly 10% price increase over the past week, currently trading at $2.48, with a trading volume surge of over 40% in the last day.
- The ETF will track the spot price from the XRP-USD CCIXber Reference Rate Index and has a management fee of 0.50%.
- Experts suggest that this launch represents a significant victory for Ripple against regulatory challenges.
The Canary XRP ETF’s approval marks a pivotal moment in cryptocurrency investment options, particularly following recent regulatory hurdles faced by Ripple. With an anticipated launch this week, market interest is reflected in both increased trading volumes and XRP’s rising price amid broader economic considerations.
As of now, XRP’s price trajectory shows resilience with a recent jump of nearly ten percent and significant trading activity ahead of the ETF launch.(Source)
