Nasdaq has officially certified the Canary Capital XRP ETF. The fund is expected to go live for trading. This also comes as the U.S. finally ends its government shutdown.
Nasdaq Approves Canary Capital XRP ETF for Trading
According to Eleanor Terrett, Nasdaq has confirmed the approval of the Canary Capital XRP fund ahead of its trading today., This signals that the fund had cleared all regulatory requirements to begin trading.
The ETF will be listed under the ticker XRPC and will track the XRP-USD CCIXber Reference Rate Index. Investors will, therefore, be able to get exposure to XRP via traditional brokerage platforms. Updated filings suggest that trading is expected to begin immediately after certification.
According to this announcement, the certification positions Canary Capital as the first issuer to launch a fully spot-based XRP ETF under the Securities Act of 1933. This distinction allows the fund to hold XRP directly.
Bloomberg analyst Eric Balchunas also confirmed that the fund starts trading today.
This comes after Canary Funds filed its final Form 8-A with the SEC earlier in the week. This was the last step before Nasdaq’s approval.
Also, Canary Funds CEO Steven McClurg shared his excitement around the fund’s launch.
Anticipation Builds for ETFs Launch
The approval comes amid a stream of potential product launches by several firms. Asset managers such as Franklin Templeton, Bitwise, CoinShares, and 21Shares have amended their applications for their various XRP funds. In fact, data from the DTCC suggests those listings may well be soon.
Meanwhile, the rebound in Washington, after President Donald Trump signed a bill that officially ended the U.S. government shutdown, had brought cheer across digital assets. Analysts believe that liquidity returning into the economy might boost up crypto like XRP.
Analysts expect Canary Capital’s XRP ETF to see sizable inflows once live. Some even compared this to early Bitcoin and Ethereum spot ETFs. ETF expert Nate Geraci also said it would be the fourth single-crypto ETF in the market following BTC, ETH, and SOL.
The ETF’s approval also comes as SEC Chair Paul Atkins, at a recent speech, emphasized the need for more clear frameworks on crypto beyond enforcement actions.
Source: https://coingape.com/nasdaq-certifies-canary-capital-xrp-etf-for-trading-ahead-of-milestone-launch-today/
