Canary Funds Puts XRP Spot ETF on Track for November 13 Launch

Canary Funds has moved to accelerate the launch of its XRP spot Exchange-Traded Fund (ETF) by officially filing an updated S-1 document that removes the delaying amendment.

This procedural move shifts the control of the launch timeline from the U.S. Securities and Exchange Commission (SEC) back to the issuer, putting the potential launch date on November 13, 2025. This is contingent on Nasdaq approving the related 8-A filing.

Key Details of the Filing

• Auto-Effective Rule: By removing the amendment, Canary’s filing is now subject to Section 8(a) of the Securities Act of 1933. This rule allows the registration to become automatically effective after a 20-day waiting period unless the SEC formally objects.
• Regulatory Backing: SEC Chair Paul S. Atkins recently voiced support for companies utilizing this “long-standing legal route” to maintain market efficiency, which is seen as an indirect endorsement of Canary’s strategy.
• Market Context: If approved, the XRP ETF would be the first product to give investors direct, regulated access to XRP’s price performance, following the recent debut of similar ETFs for Solana, Hedera, and Litecoin.

Industry Reaction

• Analyst View: Bloomberg ETF analyst Eric Balchunas noted the move as “interesting” but pointed out that the XRP filing did not undergo the same level of back-and-forth with the SEC as the Solana ETF, making the certainty of approval less clear.
• Legal Excitement: Crypto attorney Bill Morgan expressed enthusiasm for the specific target date, seeing it as a positive step for the long-anticipated listing.

The final timeline still depends on the speed of the government’s regulatory process and Nasdaq’s approval of the 8-A filing. The successful launches of other altcoin ETFs are fueling community optimism that this listing will finally bring XRP into the Wall Street mainstream.

October 2025, Cryptoniteuae