The institutional era for XRP is finally here! In a monumental milestone, the XRP ETF launch has received automatic approval, with Canary Capital’s spot XRP ETF slated to begin trading on Nasdaq later this week.
It’s Official: XRP ETF Launch Gets Automatic Approval, Trading Starts This Week
The issuer filed a crucial Form 8-A with the SEC, the final procedural step that makes the registration auto-effective. This paves the way for the first spot XRP ETF under the 1933 Act to go live, a massive victory for Ripple and the entire XRP community after years of regulatory uncertainty. The XRP ETF launch marks a definitive shift, legitimizing the asset for a vast new pool of institutional investors.
Inside the Canary XRP ETF: Ticker, Fees, and Structure
So, what do we know about the fund? The Canary XRP ETF will trade on the Nasdaq under the ticker symbol “XRPC.” Its investment objective is straightforward: to provide investors with direct exposure to the spot price of XRP. The fund will track the XRP-USD CCIXber Reference Rate Index. Canary has set a management fee of 0.50%, which is slightly higher than Bitwise’s proposed 0.34% fee for its competing XRP ETF. The trust has appointed robust, regulated partners, with Gemini and BitGo serving as custodians, ensuring institutional-grade security for the underlying assets.
Market Impact: XRP Price and Derivatives Heat Up
The market is already anticipating the XRP ETF launch. XRP price has jumped nearly 10% over the past week, with trading volume spiking 40% in the last 24 hours alone. At press time, XRP is trading around $2.48. More importantly, the derivatives market is signaling heavy accumulation. Total XRP futures open interest climbed sharply, with a 12% surge on Binance. This data indicates that traders are positioning for a major volatility event. Despite a technical “death cross” on the daily chart, the ETF catalyst has the power to overpower bearish technicals and trigger a significant rebound.
Expert Outlook: “Will Double Solana’s ETF Debut”
The optimism is palpable among experts. Canary Capital CEO Steven McClurg made a bold prediction, stating the XRP ETF will “probably double what Solana did in its first week.” This points to massive anticipated demand, justified by XRP’s larger market cap and established global presence. Experts like Nate Geraci see this as a definitive win against the SEC’s previous anti-crypto stance. With the U.S. government shutdown also nearing an end, the XRP ETF launch is perfectly timed to capitalize on a broader risk-on sentiment.
My Thoughts
This is the watershed moment XRP holders have been waiting for. The XRP ETF launch isn’t just another product; it’s a resounding legal and institutional validation. I expect initial inflows to be massive, potentially eclipsing other altcoin ETFs due to XRP’s widespread name recognition and years of pent-up demand. This could easily propel XRP back toward its 2025 highs and beyond. The narrative has permanently shifted from “is it a security?” to “how much institutional capital will flow in?”
