Canary Capital confirmed the launch of its spot XRP ETF on Thursday, which received automatic approval via an 8-A filing and listing certificate from Nasdaq.
The firm will start trading today, with Robinhood also listing the Canary XRP ETF for trading. Experts anticipate a massive recovery in XRP price this week.
Canary XRP ETF Announces Launch Today
Canary Capital confirmed the start of XRP ETF trading on Nasdaq under the ticker symbol “XRPC,” according to a 424B3 filing with the US SEC on November 13.
This becomes first to launch under the 1933 Act. It will provide investors with exposure to XRP, a token linked to Ripple and XRP Ledger.
Steven McClurg, CEO of Canary Capital, said this development will enable the next wave of adoption and growth in the ecosystem.
The firm also issued an official announcement today regarding its launch on Nasdaq. However, the issuer maintained a 0.50% fee, with no waiver announced yet.
Notably, commission-free trading platform Robinhood has also listed the XRP ETF on its platform. This is huge for expanding mainstream access, fueling broader market adoption, and boosting liquidity.
The Canary spot XRP ETF became auto-effective earlier this week. Also, Nasdaq approved the listing of shares on the exchange.
According to crypto expert Nate Geraci, the launch marks a big win for Ripple and XRP Army. Earlier, Bloomberg senior ETF analyst Eric Balchunas posted about the development mentioning that the lunch could happen on Wednesday or Thursday.
The XRP ETF will track the spot price from the XRP-USD CCIXber Reference Rate Index. Gemini and BitGo are the custodians, with U.S. Bank as the cash custodian.
Can XRP Price Breakout for a Rally to $3?
XRP price continued to trade range-bound near $2.50. The price is up more than 2% over the last 24 hours, with an intraday low and high of $2.32 and $2.52, respectively.
Trading volume has spiked by 52% in the last 24 hours in response to rising institutional interest in XRP due to the ETF launch by Canary Capital and the end of the US government shutdown.
CoinGlass data showed massive buying in the derivatives market. At the time of writing, the total XRP futures open interest jumped 3% in the last one hour.
The total XRP futures climbed 5.50% to $4 billion over the last 24 hours. The futures open interest on CME and Binance jumped by almost 5% and 8%, respectively.