Canary Capital has filed Form 8-A with the SEC, setting the stage for the first spot XRP ETF to launch on November 13, pending approval from Nasdaq.
The move marks a major step in expanding regulated crypto ETFs beyond Bitcoin and Ethereum. It also signals growing institutional acceptance of altcoins.
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Canary Pushes XRP Toward Wall Street
The filing follows Canary’s earlier decision to remove the “delaying amendment” from its S-1 registration. This action triggered the auto-effective route under Section 8(a). It allows the registration to go live automatically after 20 days unless the SEC objects.
Market analysts see the 8-A filing as the final regulatory hurdle before trading begins. The fund is expected to launch at the market open on November 13. It contributes to the growing wave of altcoin ETFs, which has revived interest in digital assets.
This development follows a week of successful altcoin ETF launches. Products for Solana, Litecoin, and Hedera have strengthened confidence in crypto-based investment vehicles. These moves suggest broader regulatory comfort with digital asset products.
A spot XRP ETF would let both retail and institutional investors gain exposure to the token without holding it directly. This reduces concerns about custody and exchange risk.
It also highlights the growing acceptance of digital assets beyond Bitcoin and Ethereum. The success of recent altcoin ETF launches confirms this broader interest.
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Institutional Appetite For Altcoins Grows
Canary’s latest filing comes following a surge in altcoin ETF launches this week. Bitwise and Canary launched their Solana, Litecoin, and Hedera ETFs using the same auto-effective process.
As BeInCrypto previously reported, Bitwise’s Solana ETF (BSOL) set a record with $56 million in first-day trading volume. On the second day, BSOL reached $72 million in volume, highlighting increased institutional demand for regulated altcoin products.
Litecoin and HBAR ETFs followed with comparatively modest activity. HBAR recorded $8 million in first-day trades, while Litecoin saw $1 million.
Notably, prospects for an XRP ETF appear positive given the performance of previous products.
REX-Osprey’s XRPR, which launched in mid-September 2025, has attracted notable demand. On launch day, XRPR logged $24 million in volume within the first 90 minutes, five times the volume of earlier XRP-based futures contracts. By late October, XRPR topped $100 million in assets under management.
This performance highlights the growing institutional interest in regulated XRP exposure. It also sets high expectations for Canary’s upcoming launch.
However, the launch still depends on Nasdaq’s final approval. Experts warn that XRP’s price may not rise sharply if investors have already priced in the news. Even so, Canary’s progress shows that altcoin ETFs are steadily gaining legitimacy in traditional finance.
Source: https://beincrypto.com/canary-capital-xrp-etf-launch-date/
