XRP ETF Launch Imminent as Canary Files Final 8A Form

Key Insights:

• XRP ETF will trade as XRPC, with Nasdaq approval and SEC clearance now in place.
• Trading volume and futures interest in XRP surged ahead of the expected ETF launch.
• Canary sets a 0.50% fee; an ETF to track XRP-USD index with Gemini and BitGo as custodians.

Canary Capital has filed Form 8-A with the U.S. Securities and Exchange Commission (SEC), clearing the last step before its spot XRP ETF begins trading. The fund, listed under the ticker XRPC, will go live once Nasdaq completes its certification process. Launch is expected this week, possibly by Thursday.

Nasdaq Approves XRPC Listing

Nasdaq has approved the listing of the Canary XRP ETF. The shares are tied to a trust aimed at offering exposure to the XRP market. The ETF tracks the XRP-USD CCIXber Reference Rate Index.

Custody services will be provided by Gemini Trust Company and BitGo Trust Company. The US Bank will serve as the cash custodian, while US Bancorp Fund Services acts as administrator. Paralel Distributors LLC is listed as the fund’s marketing agent.

Fee Details and Market Context

The ETF will carry a 0.5% management fee. No temporary fee waiver has been announced. This compares with the 0.3% fee set by Bitwise in its own XRP ETF filing. Canary recently secured automatic approval for Litecoin and HBAR ETFs through the same filing route.

Canary Capital CEO Steven McClurg commented on expected demand, saying, “XRP ETF will probably double what Solana did in its first week.” He pointed to XRP’s market size and volume as signals of investor interest.

XRP Price Activity Ahead of Launch

XRP was trading at $2.48. Over the past week, the price has gained close to 10%. The 24-hour trading volume rose by 40%, with the daily range between $2.46 and $2.58.

The token remains under both the 50-day and 200-day simple moving averages. A death cross pattern is visible, which has made traders cautious. Still, the ETF launch this week is drawing attention, and some are watching for a shift in momentum.

Data from CoinGlass shows a rise in derivatives interest. Open interest in XRP futures increased by 12% on CME and Binance. Traders are positioning ahead of the ETF’s listing window.