Nasdaq Approves Canary XRP ETF Ahead of Trading Debut

The first U.S. spot XRP exchange-traded fund cleared a major regulatory hurdle this week after Nasdaq issued an official listing notice for Canary Capital’s product, which is set to begin trading on November 13, 2025, under the ticker XRPC.

Canary Capital filed a Form 8-A with the U.S. Securities and Exchange Commission on November 10, triggering the administrative pathway that allows the fund to list on an exchange. Bloomberg ETF analyst Eric Balchunas confirmed that Nasdaq had issued the final approval, paving the way for the debut on the Nasdaq Global Market.

The ETF will track the XRP-USD CCIXber Reference Rate Index and charge a management fee of 0.50%. Custodians Gemini Trust Company and BitGo Trust Company will oversee digital asset storage, while U.S. Bancorp Fund Services will act as transfer agent and administrator. The structure is designed to meet institutional compliance standards, offering investors a familiar framework for crypto exposure.

Market analysts are treating the launch as a potential milestone for both Ripple and the broader crypto ETF landscape. Comparisons are already being made to Solana’s recent ETF debut in late October, which attracted over half a billion dollars in assets during its first week. Some expect XRP’s larger market capitalization—over $140 billion—to translate into even stronger inflows once trading begins.

For Ripple, the ETF represents a crucial turning point after years of legal battles and regulatory ambiguity in the United States. The product offers both retail and institutional investors direct exposure to XRP through traditional brokerage accounts, bypassing the need to buy tokens on crypto exchanges. This marks a symbolic step toward mainstream financial integration for Ripple’s ecosystem.

Traders, however, are approaching the event with measured optimism. XRP traded around $2.40 at press time, down roughly 1%, as the market absorbed the news. Analysts note that ETF launches often produce short-term volatility but can lead to sustained inflows once price discovery stabilizes.

The fund’s relatively modest 0.50% management fee positions it competitively within the expanding crypto ETF market. If early demand proves strong, Canary Capital’s XRP ETF could pave the way for similar products tied to other digital assets, signaling a broader shift toward regulated blockchain-based investment vehicles in U.S. markets.