Canary Capital’s XRP exchange-traded fund (ETF) has officially received approval to begin trading on the Nasdaq, with its debut set for November 13, 2025. The ETF, listed under the ticker symbol XRPC, represents the first spot XRP ETF to be introduced in the United States—marking a historic milestone in the cryptocurrency investment landscape.
The formal go-ahead came after Nasdaq issued an official listing notice, following the submission of Canary Capital’s Form 8-A to the U.S. Securities and Exchange Commission (SEC) on November 10. This submission triggered an automatic approval process, allowing the ETF to move forward without further delays. Prominent ETF analyst Eric Balchunas confirmed the development, solidifying anticipation surrounding the launch.
The Canary XRP ETF will be listed on the Nasdaq Global Market and will carry a management fee of 0.50%. It is designed to track the XRP-USD CCIXber Reference Rate Index, offering investors a direct avenue to gain exposure to XRP’s price movements through a regulated financial instrument. U.S. Bancorp Fund Services will serve as the transfer agent and administrator, while custody responsibilities will be split between Gemini Trust Company and BitGo Trust Company.
This development is being hailed as a major victory for Ripple and the broader XRP community, especially after years of regulatory scrutiny that cast doubt on XRP’s long-term viability in the U.S. financial markets. The ETF’s approval underscores a growing shift in regulatory attitudes and highlights increasing institutional acceptance of crypto-based financial products.
The launch of the XRP ETF occurs in the wake of a successful rollout of spot Solana ETFs in late October. Bitwise’s Solana Staking ETF (BSOL), which debuted on October 28, attracted $531 million in net assets during its first week of trading. With $70 million flowing in on the opening day alone, BSOL sustained positive inflows for seven consecutive sessions, drawing $199 million of fresh capital even amid a volatile market that saw outflows from Bitcoin and Ethereum ETFs.
Given XRP’s market capitalization of approximately $143 billion, analysts speculate that the XRPC ETF could surpass Solana’s launch performance, potentially doubling the gains BSOL achieved in its first week. The strong demand for XRP exposure—combined with the accessibility of ETFs via traditional brokerage accounts—is expected to drive substantial interest from both institutional and retail investors.
Unlike direct crypto purchases, ETFs offer a safer and more familiar investment route for those who prefer regulated financial instruments. The introduction of the XRPC ETF eliminates the need for investors to deal with cryptocurrency exchanges, private wallets, or complex onboarding processes. This ease of access could significantly broaden XRP’s investor base and enhance liquidity in the market.
Moreover, the ETF’s launch may serve as a barometer for the future of crypto ETFs in the U.S. The approval of a spot XRP fund could pave the way for other altcoin-based ETFs to receive similar treatment. This could signal a turning point in the conversation surrounding regulatory frameworks for digital assets, potentially leading to further integration between traditional finance and the crypto sector.
Investors and analysts alike will be closely monitoring the ETF’s first week of trading. Key metrics such as trading volume, net inflows, and price correlation with spot XRP will help assess its market reception and long-term potential. If the XRPC ETF attracts inflows comparable to or exceeding those of BSOL, it could cement XRP’s place among the top crypto assets favored by institutional investors.
Additionally, the ETF may have broader implications for Ripple’s ongoing efforts to expand XRP’s utility beyond cross-border payments. A successful ETF launch could fuel new developments in decentralized finance (DeFi), tokenization, and smart contract applications within the XRP Ledger ecosystem.
As of the latest market data, XRP is trading around $2.40, experiencing a slight decline of nearly 1% on the day. While the price has yet to reflect the ETF approval, market observers anticipate that increased investor access through the ETF could contribute to upward price pressure in the near future.
Looking ahead, the success of the Canary XRP ETF could encourage other asset managers to explore similar products tied to emerging cryptocurrencies. The potential for diversification, reduced volatility through structured investment vehicles, and broader investor participation makes ETFs an attractive option in the evolving digital asset space.
In summary, the Nasdaq debut of the Canary XRP ETF on November 13 is more than just a product launch—it’s a landmark event in the mainstream adoption of cryptocurrencies. By bridging the gap between digital assets and traditional finance, the XRPC ETF could redefine how investors engage with XRP and set a precedent for future crypto-based ETFs in the U.S. financial market.