Eleanor Terrett, former Fox Business journalist and host of the Crypto In America podcast, reported that Canary Capital’s long-anticipated XRP exchange-traded fund (ETF) has now been declared effective.
Terrett revealed that as of 5:30 PM ET on November 12, Nasdaq had certified the listing, officially clearing XRPC for trading at the market open on November 13. Her update follows months of procedural progress that positioned Canary Capital Group LLC at the center of the digital asset market’s growing institutional phase.
🚨NEW: As of 5:30 PM ET, @CanaryFunds’ $XRP ETF is officially effective after @Nasdaq certified the listing, clearing $XRPC for launch tomorrow at market open. pic.twitter.com/h3hxVMDhWP
— Eleanor Terrett (@EleanorTerrett) November 12, 2025
The Path to Approval
The journey toward approval began when Canary Capital withdrew the delaying amendment from its S-1 registration statement. That move allowed the firm to initiate the automatic effectiveness countdown under the Securities Act, bypassing the need for a separate SEC declaration of effectiveness.
By removing the amendment, Canary signaled readiness to bring its spot XRP ETF to market within a specific time frame unless regulators intervened. The firm followed this with the submission of Form 8-A to the U.S. Securities and Exchange Commission (SEC), a required filing to register the ETF’s shares for listing on a national securities exchange.
The filing indicated Canary’s intention to list on the Nasdaq Stock Market under the ticker symbol XRPC. This progression marked a critical shift from regulatory preparation to market readiness, demonstrating that all major structural components of the ETF were in place.
Nasdaq Certification Confirms Listing
The next milestone arrived on November 12, 2025, when Nasdaq Regulation issued a certification letter confirming that the exchange had received and approved Canary’s Form 8-A application.
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This formal certification represented the final procedural step before the ETF’s launch. Following the complete certification, Nasdaq cleared the product for trading today, November 13, marking the first physically backed XRP ETF on Nasdaq.
A New Era for XRP
With the launch confirmed, attention now turns to the ETF’s first day of trading and its potential to expand institutional participation in XRP. Canary Capital CEO Steve McClurg previously predicted that spot XRP ETFs could attract up to $5 billion in inflows within the first month, and his company’s product could play a significant role in reaching that milestone.
If trading volumes meet expectations, the launch could strengthen XRP’s position among top digital assets. Market participants are already showing excitement, as XRP is trading at $2.51, up 4.74% from yesterday, and this growth could accelerate as more investors join the ecosystem through the ETF.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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