Nasdaq Greenlights Canary Capital’s Spot XRP ETF for Trading

Nasdaq has officially approved the Canary Capital XRP ETF, confirming it will begin trading today under the ticker XRPC. The approval, first highlighted by journalist Eleanor Terrett, indicates that the fund has met all regulatory requirements and is now cleared for live market activity. This development marks a major milestone for both Canary Capital and the wider XRP ecosystem, as the ETF is fully spot-based and registered under the Securities Act of 1933—meaning it can hold XRP directly rather than relying on futures contracts or synthetic exposure.

The XRPC ETF will track the XRP-USD CCIXber Reference Rate Index, allowing investors to gain secure exposure to XRP through traditional brokerage platforms. Updated filings suggest that trading will commence immediately following final certification, presenting a new entry point for both retail and institutional participants. Bloomberg analyst Eric Balchunas also confirmed that the launch is set for today, adding to the growing anticipation around the product.

This approval follows Canary Funds’ submission of its final Form 8-A earlier in the week, the last procedural requirement before Nasdaq’s confirmation. CEO Steven McClurg expressed strong enthusiasm for the launch, crediting SEC leadership—including Chairman Atkins and Commissioner Peirce—for supporting free-market innovation and enabling the first single-token spot XRP ETF to go live.

The timing of the ETF’s debut aligns with growing momentum for crypto-based investment vehicles. Major firms such as Franklin Templeton, Bitwise, 21Shares, and CoinShares have recently updated their own XRP ETF filings, and DTCC data hints that more approvals may be on the horizon. Market sentiment has also strengthened after President Donald Trump signed a bill ending the U.S. government shutdown, restoring confidence and liquidity across digital asset markets.

Analysts expect significant inflows into the XRPC ETF, comparing its potential impact to the early days of spot Bitcoin and Ethereum ETFs. Nate Geraci noted that Canary Capital’s product now becomes the fourth single-crypto ETF in the U.S., joining BTC, ETH, and SOL. The approval also comes as SEC Chair Paul Atkins continues to advocate for clearer regulatory frameworks for digital assets, signaling broader institutional acceptance of crypto-based financial products.