Overview
- Canary Capital filed Form 8‑A on November 10, triggering automatic effectiveness for its XRP ETF under ticker XRPC, with Nasdaq listing approved and trading expected within days.
- Operational readiness broadened as the DTCC listed multiple spot XRP ETFs in its active and pre‑launch registry, including products from Bitwise, Franklin Templeton, 21Shares, CoinShares, and Canary, though DTCC status is not final SEC approval.
- XRP jumped roughly 9–12% in recent sessions to the mid‑$2.50s with trading volumes rising sharply, reflecting anticipation of imminent fund launches.
- Projected demand varies, with Canary CEO Steven McClurg estimating up to $5 billion in first‑month inflows and some analysts citing more than $8 billion over the first year.
- Analysts caution that a “sell the news” pullback is possible as on‑chain data show large holders unloading over 90 million XRP, highlighting short‑term downside risks despite long‑term adoption hopes.