In a historic milestone, the first pure-play 33 Act XRP ETF has gone live in the U.S. The Nasdaq has certified Canary Capital’s spot XRP ETF, which launches at the U.S. market open on Thursday.
As of 5:30 p.m. ET on Nov. 12, Canary Capital’s spot XRP ETF with ticker XRPC became officially effective after Nasdaq certified the listing, allowing the product to be launched at today’s U.S. market open. The approval remains one of the fastest through the SEC’s 8(a) automatic-effectiveness process, according to ETF analysts.
In a tweet highlighting the launch, Canary Capital officially introduces XRPC, the Canary XRP ETF, which it says provides exposure to the native token of the XRP Ledger. It is built to reflect network performance across payments and liquidity protocols, backed by XRP’s established utility in cross-border value transfer, and designed for efficiency, speed and scalability within distributed finance.
Canary expresses its confidence in XRP Ledger being a leading framework for global payments and purpose-built for interoperability and real-world settlement, highlighting that its design enables low-cost, near-instant transfers and has seen growing adoption across enterprise and fintech ecosystems.
Crypto community reacts
Crypto reporter Eleanor Terret reveals excitement about the milestone for XRP, sharing a take from Canary Capital CEO.
“Canary Funds CEO steven Mcclurg gave me this statement on the XRPC spot ETF,” Terrett wrote in a tweet.
McClurg stated: “We are very excited to go effective with the first single-token spot XRP ETF. This would not have been possible without the leadership of Chairman Atkins, Commissioner Pierce, and all the other fine people at the SEC who are pro-free markets.”
Expectations remain positive on XRP’s first exchange listed ETF, with analysts predicting it to see acceptance like prior spot ETPs as well as to drive significant institutional flows.