The first US-based exchange-traded fund (ETF) to hold XRP directly could hit the market as soon as Thursday, after crypto investment firm Canary Capital filed key documents for its fund.
Bloomberg Senior ETF analyst Eric Balchunas said On Tuesday Canary filed a Form 8A with the Securities and Exchange Commission on Monday night, which must be filed before securities are offered on an exchange.
Balchunas said the filing “Points to launch tomorrow or Thursday” as Form 8A filings for Hedera (Hbar) ETFs saw funds launch the next day.
“It’s not (a) done deal but all the boxes are checked,” Balchunas added. “Stay focused.”
Crypto reporter Eleanor Trent said Canary’s filing is “the final step before it becomes effective at 5:30 pm ET Wednesday once NASDAQ certifies the listing.”
“Once that happens, the final hurdle will be cleared and the first XRP spot ETF will be set to launch Thursday at the Market Open,” he said.
Other XRP (XRP) exchange-traded products were launched in the US, but Canary’s ETF was filed under the Securities Act of 1933, which allows it to hold XRP directly as opposed to others investing in an offshore company that holds the crypto.
Not the only XRP ETF in the works
Hope has been building the XRP community Over the past few days as the government shutdown began, with the first place XRP ETF set to become a major milestone.
Related: The XRP lawyer is running again for the US senate seat in 2026
With the government close to the takeover Back and running againthis clears the way for a host of ETFs to potentially hit the market.
Alongside Canary, the Depository Trust and Clearing Corporation (DTCC) reveals several other areas XRP ETFs are waiting in the wings.
The list of companies includes: 21shares, proshares, bitwise, volatility shares, Rex-Osprey, Coinshares, Amplify and Franklin Templeton.
The price of XRP has spiked 10% over the past seven days to sit at $2.40 at the time of writing, as per Coingecko data.
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