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The long-awaited moment for the XRP community has finally arrived. Nasdaq has officially certified the listing of Canary Capital’s XRP ETF under the ticker $XRPC, clearing it for launch tomorrow at market open. The certification came through a letter from Nasdaq Regulation dated November 12, 2025, confirming that the Canary XRP ETF met all listing and registration requirements.
This makes Canary Capital the first firm to successfully bring a spot XRP ETF to the U.S. market, a milestone that many see as a big step forward for XRP’s mainstream adoption.
What the ETF Means for Investors
The ETF’s approval marks a major moment in the growing wave of crypto-backed funds. However, investors are being advised to manage their expectations. While excitement is building across the XRP community, the ETF’s early impact on price could be limited.
According to information from Gemini, ETF issuers are required to buy a small amount of XRP as seed capital before launch. This initial purchase helps fund the ETF but is not a large-scale acquisition that would immediately move markets.
As Gemini explained, “The issuer must buy some XRP in advance, but it’s a small, specific amount called ‘seed capital,’ not the large-scale holdings you might be thinking of.”
Only One XRP ETF Launching for Now
Although more than 20 XRP ETF filings have been submitted, only Canary’s fund will debut tomorrow. Analysts and community members are eager to see how market inflows react to this single launch, as it may mean how XRP’s price could behave once other funds roll out in the coming weeks.
Statement from Canary Funds CEO
Canary Funds CEO Steven McClurg shared his thoughts on the historic launch and told Eleanor Terrett, “We are very excited to go effective with the first single-token spot XRP ETF. This would not have been possible without the leadership of Chairman Atkins, Commissioner Pierce, and all the other fine people at the SEC who are pro-free markets!”