XRP Price in Focus as Canary Capital Prepares to Launch New XRP ETF
XRP ETF – Investors may soon have another way to gain exposure to XRP, as Canary Capital filed a regulatory document that could pave the way for its XRP exchange-traded fund (ETF) to list on the Nasdaq. The Nashville-based firm submitted an 8-A form with the U.S. Securities and Exchange Commission (SEC) on Monday—an essential step in registering securities for trading.
The proposed Canary XRP ETF would track the spot price of XRP, the world’s fourth-largest digital asset by market capitalization.
XRP ETF Could Launch as Early as Thursday
According to Bloomberg Senior ETF Analyst Eric Balchunas, the filing suggests the ETF could launch as soon as Wednesday or Thursday. “Canary filed 8A for XRP ETF last night, which points to launch tomorrow or Thursday (today is holiday),” Balchunas wrote on X (formerly Twitter), noting that while it’s “not a done deal,” all regulatory boxes appear to be “checked.”
If approved, the Canary ETF would become the second XRP-tracking ETF available to U.S. investors, following the Rex-Osprey XRP ETF (XRPR), which debuted in September. XRPR made a strong entrance, pulling in $38 million on its first day and now managing more than $138 million in assets.
Rising Demand for Altcoin ETFs
Analysts believe Canary’s fund could attract significant inflows amid a broader investor appetite for altcoin-focused ETFs. Sumit Roy, Senior Analyst at etf.com, said XRP’s popularity, combined with recent successes like Bitwise’s Solana ETF, signals growing demand for crypto exposure beyond Bitcoin and Ethereum. Bitwise’s Solana ETF reached $500 million in two weeks, suggesting potential nine-figure inflows for Canary’s product.
The filing comes after the breakout success of Bitcoin and Ethereum ETFs, which now collectively manage about $160 billion in assets. The SEC is currently reviewing over 90 crypto-related fund applications, reflecting a rapidly expanding market for digital asset investment vehicles.
As of now, XRP trades around $2.40, down 6% in the past 24 hours and roughly 30% below its July all-time high of $3.65, according to CoinGecko.
