Overview
- Canary removed the delaying amendment from its S‑1, positioning the XRP fund to become effective automatically under Section 8(a) after 20 days unless the SEC intervenes.
- The issuer is aiming for a November 13 start date that remains contingent on Nasdaq approving the Form 8‑A listing application.
- Gemini Trust Company and BitGo Trust Company are named in filings as custodians for the ETF’s underlying XRP, and pricing would reference CoinDesk’s XRP CCIXber rate.
- The move follows a playbook used this week for spot Solana, Litecoin and Hedera ETFs that leveraged the same auto‑effective process.
- Reporters note the SEC could still issue comments that alter timing, and there has been no public confirmation of Nasdaq approval or a completed SEC review.