First-Ever U.S. XRP Spot ETF Could Launch Thursday Capital SEC

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Canary Capital’s XRP ETF could debut Thursday, pending Nasdaq certification.
The ETF allows direct holding of XRP, unlike previous offshore-based products.
XRP price has risen 10% amid growing anticipation for U.S. ETFs.

The first U.S.-based exchange-traded fund (ETF) to directly hold XRP may be just days away from debuting. Crypto investment firm Canary Capital filed critical documents with the Securities and Exchange Commission (SEC), signaling a potential launch as early as Thursday.

Filing Signals Imminent Launch

Bloomberg senior ETF analyst Eric Balchunas confirmed Canary Capital submitted a Form 8A to the SEC on Monday night. This filing is a key regulatory step, allowing securities to be offered on an exchange. Balchunas noted that similar filings for Hedera HBAR ETFs resulted in fund launches the following day, suggesting Canary’s XRP ETF could follow a similar timeline.

Canary filed 8A for XRP ETF last night, which points to launch tomorrow or Thursday (today is holiday). Thursday was the day we thought they'd be on track for but when they did the 8A for HBAR they launched the next day. Not done deal but all boxes being checked. Stay tuned.. pic.twitter.com/gVt9c3psmu
— Eric Balchunas (@EricBalchunas) November 11, 2025

Crypto reporter Eleanor Trent added that once the Nasdaq certifies the listing, the ETF could officially go live at market open Thursday, marking a major milestone for XRP investors.

What Sets This ETF Apart

Unlike previous XRP-related exchange-traded products in the U.S., Canary’s ETF is structured under the Securities Act of 1933. This allows it to directly hold XRP rather than investing through offshore companies, offering investors a more direct exposure to the cryptocurrency.

The ETF arrives amid a broader wave of XRP market enthusiasm. The price of XRP has surged roughly 10% over the past week, trading near $2.40, according to CoinGecko. Analysts suggest that the potential ETF launch may be fueling renewed optimism among investors.

Also Read: Elliott Wave Analysis Shows XRP Could Surge to $27 — Here’s What Traders Need to Know

Other XRP ETFs on the Horizon

Canary’s ETF isn’t the only one in the works. The Depository Trust and Clearing Corporation (DTCC) shows multiple spot XRP ETFs waiting for approval, including funds from 21Shares, ProShares, Bitwise, Volatility Shares, REX-Osprey, CoinShares, Amplify, and Franklin Templeton. With the U.S. government resuming operations, the path is clearer for these ETFs to enter the market, potentially creating a more competitive landscape for XRP-focused products.

If approved and launched, Canary Capital’s XRP spot ETF could set a new benchmark for U.S. crypto investing. For XRP holders and crypto enthusiasts, the coming days may bring an important opportunity to gain regulated, direct exposure to the token.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Andrew Chen

I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.

Andrew Chen

I'm a crypto enthusiast with a background in finance. I'm fascinated by the potential of crypto to disrupt traditional financial systems. I'm always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.