Overview
- Canary Funds removed the delaying amendment from its S-1, allowing the spot XRP ETF to become automatically effective under Section 8(a) after the 20-day window, positioning a November 13 target.
- The proposed launch remains contingent on Nasdaq approving the fund’s Form 8-A listing application, and any new SEC comments could reset the clock.
- The filing names Gemini Trust Company and BitGo Trust Company as custodians and references pricing via the CoinDesk XRP CCIXber Reference Rate.
- The move follows a wave of crypto ETFs that went live using the same auto-effective pathway for Solana, Litecoin, and Hedera during reduced SEC operations, with SEC Chair Paul Atkins signaling tolerance for the 20-day rule.
- Fox Business journalist Eleanor Terrett first flagged the amendment, while analysts noted the XRP filing had less prior back-and-forth with the SEC compared with recent Solana submissions.