Nasdaq has certified the listing of Canary Capital’s XRP ETF, signaling a potential launch. The SEC has not yet given final approval, making the launch date uncertain. This XRP ETF could be the sixth single crypto asset ETF, following Bitcoin, Ether, Solana, Litecoin, and Hedera.
What to Know:
- Nasdaq has certified the listing of Canary Capital’s XRP ETF, signaling a potential launch.
- The SEC has not yet given final approval, making the launch date uncertain.
- This XRP ETF could be the sixth single crypto asset ETF, following Bitcoin, Ether, Solana, Litecoin, and Hedera.
The crypto market anticipates the potential launch of the first spot XRP exchange-traded fund (ETF), particularly after Nasdaq certified the listing of Canary Capital’s XRP ETF. While the official launch date remains uncertain pending SEC approval, this move signifies growing institutional interest in XRP and the broader digital asset space. The introduction of an XRP ETF could provide a more accessible avenue for investors to gain exposure to XRP.
Bloomberg’s senior ETF analyst, Eric Balchunas, noted the arrival of the official listing notice from Nasdaq for the Canary XRP ETF (XRPC). While many expected trading to commence imminently, the SEC’s final approval is still pending. This situation introduces an element of uncertainty despite the procedural steps completed by Nasdaq.
The official listing notice for XRPC has arrived from Nasdaq. Looks like tomorrow is on for the launch.
Nate Geraci, president of NovaDius Wealth Management, highlighted the launch of Canary’s website for the XRP ETF, reinforcing expectations of a near-term trading launch. If launched, Canary’s XRP ETF would join the ranks of single crypto asset ETFs, including those for Bitcoin, Ether, Solana, Litecoin, and Hedera. This expansion of crypto ETF offerings reflects increasing demand and acceptance within the investment community.
Canary Capital will be first to market. Its XRP ETF would be the sixth single crypto asset in the ETF wrapper after Bitcoin (BTC), Ether (ETH), Solana (SOL), Litecoin (LTC) and Hedera (HBAR).
Market observers point out that Nasdaq’s clearance of XRPC for launch does not guarantee immediate trading. The exchange’s letter is a procedural step, indicating that the listing has been approved but not necessarily that the SEC has authorized trading. Investors should monitor regulatory announcements for confirmation on the commencement of trading.
The potential launch of a spot XRP ETF marks a significant step in the evolution of crypto investment products. As regulatory landscapes evolve, these financial instruments offer new opportunities for portfolio diversification and exposure to the digital asset market, albeit with inherent risks that investors should carefully consider.
Related: XRP Price: $12M Max Pain for Bears
Source: Original article
Quick Summary
Nasdaq has certified the listing of Canary Capital’s XRP ETF, signaling a potential launch. The SEC has not yet given final approval, making the launch date uncertain. This XRP ETF could be the sixth single crypto asset ETF, following Bitcoin, Ether, Solana, Litecoin, and Hedera.
Source
Information sourced from official Ripple publications, institutional research, regulatory documentation and reputable crypto news outlets.
Author
Ripple Van Winkle is a cryptocurrency analyst and founder of XRP Right Now. He has been active in the crypto space for over 8 years and has generated more than 25 million views across YouTube covering XRP daily.
Editorial Note
Opinions are the author's alone and for informational purposes only. This publication does not provide investment advice.
