Nasdaq has approved the Canary Capital XRP ETF under ticker XRPC, marking the first single-token spot XRP ETF to launch today.
Nasdaq has officially approved the Canary Capital XRP Exchange-Traded Fund (ETF), marking a milestone for crypto investors.
The ETF will trade under the ticker XRPC and is set to launch today. This approval opens a new way for investors to gain exposure to XRP through traditional financial markets. It is the first single-token spot XRP ETF to be certified for trading on Nasdaq.
Nasdaq Certification Opens the Door for XRPC Trading
Nasdaq’s approval of the Canary Capital XRP ETF confirms that it has met all regulatory requirements. This allows the fund to begin trading today, offering a new investment product for those interested in XRP.
The ETF will track the XRP-USD CCIXber Reference Rate Index, providing direct exposure to XRP. Investors can now gain exposure to XRP through traditional brokerage platforms without needing to buy the token directly.
The XRPC ETF stands out because it is fully spot-based. This means that the fund holds the actual cryptocurrency, unlike futures-based products that rely on contracts.
Moreover, this distinction is important for investors looking for a more direct link to the underlying asset. It also makes the ETF the first of its kind, setting a new precedent for other crypto-based ETFs.
Bloomberg analyst Eric Balchunas confirmed that the ETF is set to begin trading today. His comments highlight the significance of this launch, which will bring more traditional investors into the cryptocurrency space. The approval is seen as a positive development for both the crypto market and institutional investment.
SEC Filing and Regulatory Process
Canary Capital filed a Form 8-A with the SEC earlier this week, marking the final step in the approval process. This filing, required by the SEC, was the last hurdle before Nasdaq’s certification.
It shows that the ETF has complied with all necessary legal and regulatory standards. With this certification, the Canary Capital XRP ETF is cleared for trading under the ticker XRPC.
Eleanor Terrett, a financial reporter, confirmed that Nasdaq approved the ETF for trading today. She noted that the certification process has now concluded, allowing the fund to enter the market. This marks a major step forward in bringing cryptocurrency-based products to the mainstream financial system.
🚨NEW: As of 5:30 PM ET, @CanaryFunds’ $XRP ETF is officially effective after @Nasdaq certified the listing, clearing $XRPC for launch tomorrow at market open. pic.twitter.com/h3hxVMDhWP
— Eleanor Terrett (@EleanorTerrett) November 12, 2025
Steven McClurg, CEO of Canary Funds, expressed excitement about the ETF’s launch. He praised the SEC for supporting free markets and allowing this product to reach the public.
McClurg’s remarks emphasize the positive relationship between crypto companies and regulators working toward clearer rules.
Growing Interest in Crypto ETFs
The approval of the XRPC ETF is taking place amid increasing interest in cryptocurrency investment products.
Many asset managers, including Franklin Templeton and Bitwise, have filed for their own XRP-related funds. This growing trend signals that more crypto ETFs could soon be approved, broadening investor access to cryptocurrencies.
Market analysts expect the Canary Capital XRP ETF to attract significant investor interest once it launches.
ETF expert Nate Geraci compared the potential impact of this ETF to early Bitcoin and Ethereum ETFs. Additionally, he believes it will offer similar growth potential and open up more opportunities for traditional investors to participate in the crypto market.
Website for first 1933 Act spot xrp ETF is *live*…
Will be 4th single crypto asset in ETF wrapper after btc, eth, & sol. pic.twitter.com/CMJOjj2bM7
— Nate Geraci (@NateGeraci) November 13, 2025
The approval of this ETF also coincides with the resolution of the U.S. government shutdown. Besides, the return of liquidity to the economy could benefit digital assets like XRP, which are seen as having growth potential.
Analysts predict that the timing of the XRPC ETF’s launch could lead to strong demand from both institutional and retail investors.
