Nasdaq Approves Canary Capital's XRP ETF for Trading

The Nasdaq has certified the Canary Funds XRP Trust ETF, marking it the first pure spot XRP ETF in the U.S. It will trade under the ticker XRPC starting November 13, 2025.

Canary Funds, an established asset manager, sponsors and issues the ETF, which will offer direct XRP exposure to institutions and retailers seeking to diversify. No statements have been issued by the Canary leadership regarding the launch.

The approval is expected to significantly affect the XRP market, potentially increasing liquidity and interest in the asset. Investors may experience broader access beyond Bitcoin and Ethereum-based ETFs.

This new product could entice registered investment advisers and institutional investors previously hesitant to engage in cryptocurrency markets. The absence of direct comments from key industry leaders marks a notable aspect of the launch.

Historical competitors like Bitcoin and Ethereum have influenced market trends with their own spot ETF launches in the past.

Several outcomes, including enhanced on-chain liquidity and better price discovery, are anticipated. XRP trading around $2.48 could influence the ETFs’ uptake, as observed in previous cryptocurrency ETF debuts.

It appears that there are currently no available quotes from key players, experts, or regulatory bodies specifically related to the approval and launch of the Canary Funds XRP Trust ETF. The provided information indicates that no direct statements, tweets, or other commentary have been published in primary sources in the hours surrounding the launch.