- Nasdaq automatically approved the Canary XRP ETF following the SEC Form 8-A filing.
- The start of trading will be this Expected week and he’s already taking care of it for optimism among traders.
The Canary 8-A had been filed with the US Securities and Exchange Commission (SEC). The XRP Spot ETF is now automatically effective and is expected to begin trading later this week, subject to confirmation of the final trading date through the required CERT filing.
The listing will take place under the ticker symbol XRPC and follows the registration statement filed with the SEC on October 24th. The ETF is designed to track the XRP spot price and provide investors with an easy way to see the value of the token, while using the XRP-USD CCIX reference price index to ensure accurate and reliable pricing.
Canary Capital CEO Steven McClurg sagte:
“The XRP ETF will likely achieve double what Solana achieved in the first week.”
He highlighted the current demand for XRP through growing sales and market capitalization, which shows that investors are very interested. Analysts see the ETF launch as a positive step.
CEO Steven McClurg at Canary Capital on XRPETF.. #XRP pic.twitter.com/2UnDKdvc4R
– RICE..
(@RizXRP) November 10, 2025
Canary Capital completed its SEC filings to launch the ETF on Nasdaq on Thursday. The fund charges a management fee of 0.50%, while the Bitwise XRP ETF charges 0.34%. US Bancorp Fund Services manages the transfers and administration, US Bank holds the cash, Gemini Trust and BitGo handle custody, and Paralel Distributors handle marketing.
This ETF follows recent automatic approvals for Litecoin and HBAR ETFs under similar applications, showing that Nasdaq is looking to list cryptocurrency ETFs locally. The move marks progress for regulated crypto products in the US as investors closely watch how an XRP spot ETF could impact liquidity, trading and XRP prices.
Nate Geraci commented on the ETF launch, calling it a big win for Ripple. Market observers believe that this launch can help more institutional and retail investors use XRP. The fund follows the rules of the 1933 Act and closely tracks the XRP spot value, making this an important step for Ripple’s trust and credibility.
XRP falls 2.88%
At the time of writing, XRP is trading at $2.46 and has fallen by 2.88% in the last 24 hours. Its market value is $148.07 billion and people traded $5.83 billion worth in one day, an increase of 16.26%. With 60.1 billion XRP in circulation, 88% of users are optimistic.
Crypto analyst Ali Martinez pointed out a bullish flag pattern for XRP and said a drop to $1.90 could trigger a quick rise towards $10. The pattern shows the price stabilizing before a possible breakout, indicating a strong rally. Traders are watching price movements closely to see if this happens.
The dream scenario: $XRP is forming a bullish flag, and a dip to $1.90 could be the spark for a rally toward $10. pic.twitter.com/LpTiPQ1FQG
— Ali (@ali_charts) November 9, 2025
XRP is currently trading below the 50- and 200-day moving averages and is forming a death cross, making traders cautious in the near-term. However, the launch of the exchange-traded fund could trigger a bounce and analysts expect more buying once the spot exchange-traded fund launches, which could potentially stabilize prices.
Data from CoinGlass shows that derivatives markets are reacting positively as open interest in ETH futures increased by 12% to $4.07 billion in 24 hours. XRP futures on CME and Binance rose over 3% and 12%. Traders are showing more activity and optimism ahead of the ETF launch.
Market observers suggest that the ETF launch, along with increasing trading activity and clear technical trends, could represent a pivotal moment for XRP. If the uptrend continues, more investors could take notice of the token and it could experience one of its biggest recoveries in years.
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