Canary Funds updates S-1 filing for XRP spot ETF, targeting November 13 launch

Canary Funds has updated its S-1 registration statement for its proposed XRP spot Exchange-Traded Fund (ETF) by removing the delaying amendment. This action relinquishes the SEC's control over the timing of effectiveness, setting the ETF up for an automatic registration if Nasdaq approves the accompanying 8-A filing. Consequently, the ETF is now targeting a potential launch date of November 13. This move follows the recent approval of Solana, Litecoin, and Hedera ETFs, which utilized the same auto-effective registration process. This mechanism allows issuers to proceed without direct SEC approval if no further comments are issued within the statutory 20-day waiting period. SEC Chair Paul Atkins has previously expressed support for firms using this 20-day rule to advance their filings.

(Source：Crypto Briefing)