TLDR:
- Canary Funds’ XRP ETF filing removes the SEC’s delaying clause, opening the door for an auto-effective registration.
- The updated filing positions the XRP ETF for a potential November 13 launch pending Nasdaq and SEC clearance.
- SEC Chair Paul Atkins welcomed companies using the 20-day waiting rule during the shutdown period.
- Market watchers link Canary’s move to Bitwise’s auto-effective filings for Solana, Litecoin, and Hedera ETFs.
Crypto traders may soon see another ETF debut. Canary Funds has taken a key step that could send its XRP spot ETF live within weeks.
The firm updated its S-1 filing, removing the “delaying amendment” that gives the U.S. Securities and Exchange Commission control over approval timing. This shift allows the registration to go auto-effective after a set waiting period. If all goes as planned, the launch could land as early as November 13.
The development comes as ETF issuers continue to use the statutory waiting method to bypass delays caused by the partial government shutdown. While timing remains subject to final review, Canary’s filing aligns with a growing list of crypto funds taking this accelerated route.
SEC Chair Backs Auto-Effective Filings
Eleanor Terrett of Fox Business reported that SEC Chair Paul Atkins recently expressed support for companies using the same statutory window.
Although he did not reference ETFs directly, he described the 20-day waiting period as an appropriate and lawful mechanism during the shutdown. His remarks suggested broader tolerance for the approach used by Bitwise, MapLight, and now Canary Funds.
The S-1 amendment mirrors the strategy employed by Bitwise earlier this week for its Solana ETF. That move allowed Bitwise to proceed without waiting for direct SEC clearance. Similar steps also brought Litecoin and Hedera ETFs to market under the same method.
Terrett’s post added that while Canary’s target date is November 13, the actual timing could shift depending on the SEC’s feedback and Nasdaq’s processing of the firm’s 8-A filing. The reopening of federal operations could either accelerate or delay the final approval.
SCOOP: @CanaryFunds has filed an updated S-1 for its $XRP spot ETF, removing the “delaying amendment” that stops a registration from going auto-effective and gives the @SECGov control over timing.
This sets Canary’s $XRP ETF up for a launch date of November 13, assuming the… pic.twitter.com/MKvEN23t5P
— Eleanor Terrett (@EleanorTerrett) October 30, 2025
XRP ETF Moves Closer to Market Entry
With the amended filing now public, industry analysts believe Canary’s XRP ETF is positioned for quick execution once procedural steps conclude. The filing eliminates a key obstacle that has slowed ETF rollouts throughout 2024.
Removing the delaying amendment transfers more control to the issuer, limiting potential bureaucratic hold-ups.
This approach reflects a broader pattern among digital asset managers using available legal channels to maintain momentum during government slowdowns. For XRP, the fund’s debut could mark a new entry point for institutional exposure, especially following the success of earlier crypto ETFs this year.
According to Terrett’s report, the next checkpoint lies with Nasdaq’s review of the 8-A submission. Once accepted, the XRP spot ETF could go live without additional intervention from the SEC, provided no new comments are raised.
The post Canary’s XRP ETF Clears Path for Launch After Key Update: Here’s the Timeline appeared first on Blockonomi.
Source: https://blockonomi.com/canarys-xrp-etf-clears-path-for-launch-after-key-update-heres-the-timeline/