Canary Capital Sets Stage for Spot XRP ETF Launch on November 13

Asset manager Canary Capital has taken a significant step toward launching a spot XRP (XRP) Exchange-Traded Fund (ETF) on November 13 by removing the "delaying amendment" from its S-1 registration filing. This action allows the filing to automatically become effective after a 20-day waiting period under Section 8(a) of the Securities Act of 1933, provided the SEC does not intervene and Nasdaq grants 8-A approval. This move follows recent successful launches of altcoin ETFs for Solana, Litecoin, and Hedera, which also utilized this auto-effective process, suggesting broader regulatory acceptance. Analysts note that the timeline could be affected by the resolution of the government shutdown, but the potential launch is anticipated given the strong initial trading volumes seen by other altcoin ETFs and the existing demand for XRP products like the REX-Osprey XRPR.

(Source：BeInCrypto)