Key Takeaways
- Canary Capital’s spot XRP ETF could begin trading as early as Thursday.
- SEC filings and procedural updates suggest imminent approval.
- Institutional interest is growing, with Franklin Templeton preparing a competing XRP ETF.
- Launches of regulated ETFs could attract new investment, boosting XRP adoption.
XRP holders are closely watching the market this week as Canary Capital prepares to launch the first spot Ripple exchange-traded fund (ETF). Analysts suggest trading could begin as early as Thursday, marking a pivotal moment for the digital asset.
The potential debut of a regulated XRP ETF could attract fresh institutional and retail interest, signaling renewed optimism for the cryptocurrency.
Regulatory Signals Point to Imminent Launch
Momentum for the launch gained strength after Canary Capital filed its Form 8-A with the U.S. Securities and Exchange Commission (SEC). This filing enables the fund’s shares to be listed and traded on a registered exchange, a critical step in ETF approval.
Also Read: XRP Breakout Imminent? Ripple’s Strategic Q1 Moves Set $3 Target
Bloomberg senior ETF analyst Eric Balchunas noted that, based on recent filings, the fund could go live this week, potentially even before Thursday if final approvals are granted. Canary Capital’s recent withdrawal of a “delaying amendment” from its S-1 registration further clears administrative hurdles, signaling readiness for the market.
Understanding the Filing Process
Canary Capital first submitted its spot XRP ETF application in October 2024 via the Cboe BZX Exchange. The SEC has formally acknowledged the filing, though the approval process has experienced delays, reflecting the commission’s cautious approach to cryptocurrency-linked ETFs.
The arrival of an XRP-focused ETF would follow earlier launches of Bitcoin and Ethereum spot ETFs, marking another significant step in legitimizing cryptocurrency investment vehicles.
Growing Competition Among Institutional Players
Canary Capital is not alone in this space. Franklin Templeton, a global investment powerhouse managing over $1.5 trillion in assets, is reportedly preparing its own spot XRP ETF. The DTCC recently listed Franklin Templeton’s product, indicating rising institutional interest in Ripple.
Also Read: XRP ETF Frenzy Begins: What Investors Need to Know Before the Launch
While Ripple trades around $2.40 with no immediate breakout, the launch of regulated ETFs could act as a catalyst for broader market participation, potentially driving price momentum.
