Asset manager Canary Capital has inched closer to launching its highly anticipated spot XRP exchange-traded fund (ETF). The firm filed a Form 8-A registration with the U.S. Securities and Exchange Commission (SEC), positioning the ETF—trading under the ticker XRPC—for a potential Nasdaq listing as early as November 13, 2025.
Form 8-A Marks a Major Regulatory Step
The Form 8-A filing represents a critical milestone in the ETF approval process. It allows the registration of securities for trading on a national exchange, in this case, Nasdaq. Canary Capital’s move follows the removal of a “delaying amendment” from its S-1 registration statement, which previously kept the fund from automatically taking effect.
Now, unless the SEC intervenes, the registration could become active after the standard waiting period outlined under Section 8(a) of the Securities Act of 1933. This procedural clearance effectively brings the XRP ETF one step closer to market.
Potential Game-Changer for XRP and Altcoin ETFs
If approved, Canary’s spot XRP ETF would mark a major advancement for crypto-based investment products in the U.S. The development builds on the recent wave of altcoin-focused ETFs—such as those tied to Solana and Hedera Hashgraph—that used similar automatic filing routes.
Market analysts predict the XRP ETF could attract substantial institutional investment, with potential inflows surpassing $1 billion within the first few months. The growing appetite for regulated crypto exposure has set the stage for XRP to join the ranks of more established digital assets like Bitcoin and Ethereum in traditional finance portfolios.
Final Steps Before Launch
While the regulatory progress is promising, the ETF’s launch still depends on Nasdaq’s approval of the 8-A filing and the absence of additional SEC comments. Bloomberg ETF analyst Eric Balchunas noted that the XRP ETF’s paperwork has involved fewer regulatory interactions than previous filings, suggesting a faster—but slightly uncertain—timeline.
Even so, the regulatory landscape has become more favorable. The SEC’s revised rules earlier in 2025 simplified the listing process for spot crypto ETFs, paving the way for broader altcoin participation in U.S. markets.
What a Successful Launch Could Mean
Should the XRPC ETF go live on schedule, it would enhance institutional access to XRP and strengthen the token’s legitimacy in regulated markets. A successful rollout could also encourage the introduction of more spot-crypto ETFs, expanding investor options beyond Bitcoin and Ethereum.
Still, the ultimate test will come when trading begins. Execution, exchange readiness, and investor demand will determine whether this milestone translates into long-term momentum for XRP.
