Canary XRP ETF Moves Closer to Launch with SEC Filing
- The Canary XRP ETF filed Form 8-A12(b) on Nov. 10, marking a significant step toward launch.
- Nasdaq has approved the listing application, confirming it will serve as the exchange venue for the ETF.
- The ETF’s proposed ticker is XRPC, with an initial basket size of 10,000 shares priced at $25 each.
- If the SEC allows the S-1 registration statement to become effective on schedule, trading could start as soon as Nov. 14.
- Analysts project first-month inflows for the XRP ETF could range from hundreds of millions to several billion dollars.
The filing moves Canary into Nasdaq’s “ready” phase, where it must submit additional documentation before trading can commence. The market is closely watching this development, especially given that US spot Bitcoin funds have seen over $50 billion in inflows this year.
With potential trading starting by mid-November, the Canary XRP ETF aims to capture significant market interest similar to other crypto ETFs.(Source)
