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- The SEC has acknowledged Canary Capital's registration for the first U.S. spot XRP ETF, which could begin trading on Nasdaq as early as Thursday

- The ETF, listed under the ticker XRPC, aims to expand institutional access to XRP through a regulated and custodial investment vehicle

The U.S. Securities and Exchange Commission (SEC) has acknowledged the registration of the Canary XRP exchange-traded fund (ETF), marking the final step before what could be the country's first-ever spot XRP ETF launch. The development follows the SEC's Form 8-A filing, which signals readiness for public trading pending Nasdaq certification. Once approved, the ETF is expected to debut under the ticker XRPC, potentially as early as Thursday's market open.

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Canary Capital's XRP ETF marks a significant milestone for integrating digital assets into traditional finance. After submitting its initial Form S-1 on October 24, the fund underwent a period of review and regulatory scrutiny that lasted for months. The approval process faced temporary delays due to the recent U.S. government shutdown, which postponed several pending ETF decisions.

The acknowledgment now positions Canary at the forefront of institutional XRP adoption. The fund's structure is designed to mirror the format of other spot crypto ETFs, offering exposure to XRP (CRYPTO: $XRP ) through regulated custodial holdings. This framework provides investors a compliant route to participate in the asset's performance without direct token ownership.

Canary CEO Steven McClurg said the ETF could surpass the market reception of the firm's Solana ETF, which drew considerable inflows following its debut. He noted, "The XRP ETF could even double the initial success of Solana's debut ETF," emphasizing its potential to attract new institutional demand.

Institutional Access to XRP Expands

The launch of XRPC could reshape institutional participation in the XRP ecosystem. Market analysts suggest that the ETF's introduction may reduce volatility by channelling liquidity through regulated exchanges. The offering provides a bridge between digital assets and traditional investment vehicles, catering to portfolio managers who previously avoided unregulated crypto exposure.

Moreover, the ETF's arrival signals a changing stance by U.S. regulators toward digital asset products. A March 2025 interpretive letter from the Office of the Comptroller of the Currency (OCC) has already eased restrictions on bank participation in crypto services.

The XRP ETF's potential approval adds momentum to an expanding list of blockchain-based financial instruments, including spot Bitcoin and Solana ETFs, that have recently entered U.S. markets.

Ahead of the anticipated listing, XRP recorded a price of $2.42, according to CoinMarketCap, giving the token a market capitalization of $145.76 billion and a 4.18% market dominance. Although daily trading volume decreased by 21.38% to $4.82 billion, XRP has risen by over 8% in the past week.