Canary Capital is poised to launch the first spot XRP exchange-traded fund in the U.S. this week, joining a growing field of asset managers vying for institutional investment in the digital asset.
The firm received final regulatory approval from the U.S. Securities and Exchange Commission (SEC) on November 10, 2025, with trading expected to commence on Nasdaq on Thursday, November 13, 2025, under the ticker “XRPC.”
This launch positions Canary Capital among several firms preparing or already listing XRP investment products, intensifying competition for institutional capital in the cryptocurrency market.
Five XRP funds are currently listed on the Depository Trust and Clearing Corporation (DTCC), including those from Franklin Templeton (XRPZ), Bitwise (TOXR), 21Shares (XRP), CoinShares (XRPL), and Canary Capital (XRPC).
CoinShares’ XRPL was an early DTCC listing, while Franklin Templeton and Bitwise funds are highly anticipated by investors. WisdomTree is also expected to launch its own XRP ETF soon.
Additionally, Grayscale plans to convert its existing XRP Trust, which holds USD $14 million in assets under management, into a spot ETF.
The proliferation of these products highlights a surging institutional appetite for XRP and other liquid cryptocurrencies.
XRP and Solana futures have become the fastest-growing products on the Chicago Mercantile Exchange (CME), indicating expanding interest from traditional investors in digital assets.
The SEC’s final approval for Canary Capital’s Form 8-A marks a critical step, enabling the ETF to become effective automatically. This reinforces XRP’s standing among regulated digital assets in the U.S.
While this is a technical approval, last-minute regulatory comments on aspects like custody or market surveillance could still delay the launch until December.
An existing spot XRP ETF managed by REX Shares and Osprey Funds already provides direct exposure to the digital currency, bypassing the need for investors to manage asset custody.
The successful debut of Canary Capital’s ETF could significantly boost XRP’s price amid current market uncertainty. It would further integrate the cryptocurrency sector into mainstream U.S. financial markets.