Overview
- Canary Funds removed the delaying amendment from its S-1 for an XRP spot ETF, enabling automatic effectiveness under Section 8(a).
- The proposed launch is contingent on Nasdaq approving the Form 8‑A listing, and the SEC could still slow the timeline by issuing comments.
- Fox Business reporter Eleanor Terrett reported the filing update and a tentative November 13 date for trading to begin.
- The filing names Gemini Trust Company and BitGo Trust Company as custodians for the underlying XRP.
- Backend steps at DTCC point to operational readiness, and the move follows recent Solana, Litecoin, and Hedera ETFs using the same statutory mechanism as SEC Chair Paul Atkins signaled support during the shutdown.