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Canary Capital plans XRP ETF: launch expected on Thursday!
Canary Capital is applying for approval of a spot XRP ETF, expecting to launch on Thursday and offering investors indirect market access.
Canary Capital plans XRP ETF: launch expected on Thursday!
Canary Capital has filed a Form 8-A with the US Securities and Exchange Commission (SEC) for a Spot XRP Exchange-Traded Fund (ETF). This new product follows the company's previous launches of spot HBAR and Litecoin products. The planned launch of the Spot XRP ETF is scheduled for Wednesday or Thursday, depending on the final certification by Nasdaq. This development was commented on by Eric Balchunas, a Bloomberg ETF analyst, on social media, indicating an imminent launch.
The filing comes after an update to Canary Capital's S-1 registration application for the proposed ETF, which is specifically targeting a Thursday launch. The new listing route under Section 8(a) of the Securities Act allows filing to become effective after a 20-day notice period, absent objections from the SEC. The ETF aims to provide investors with indirect exposure to the market price of XRP.
First spots for XRP and competing products
Back in September, REX-Osprey launched its XRP product, the REX-Osprey XRP ETF (XRPR), under the Investment Company Act of 1940. This made it the first US-listed spot XRP product. The XRPR ETF recorded $31 million in trading volume at the end of its first day of trading. It is important to note that the REX-Osprey ETF differs in structure and regulatory framework from a traditional Spot XRP fund as it holds most of its assets in Spot XRP and also invests in related instruments.
Canary Capital's filing comes at a time of increasing activity in altcoin ETFs in the US. In October 2025, several providers launched products linked to Solana, HBAR and Litecoin. In the early Asian trading session, XRP was trading at around $2.39, down 6% compared to the last 24 hours.