New XRP ETF Filing Could Be the Canary in the Crypto Mine This Week
Canary XRP ETF filed a key Form 8-A12(b), moving the potential first US spot XRP ETF closer to listing on Nasdaq.Summary
Canary XRP ETF has taken a significant step toward launching the first US spot XRP ETF by filing Form 8-A12(b) on November 10, which formally registers the fund's shares for listing on Nasdaq. This filing moves the product into Nasdaq's technical "ready" phase. The ETF's S-1 registration statement, which was amended on October 24 to invoke Section 8(a) for automatic effect approximately 20 days later, points to a potential effective date around November 14 ET, assuming no SEC objections. The 8-A filing registers the listing, while the S-1 registers the securities; both must be in force, along with DTCC/DTC eligibility, before trading can commence. If the S-1 becomes effective on schedule, trading for the ETF, proposed to trade under the ticker XRPC, could begin within one to three sessions after Nasdaq publishes its daily list announcing the start date.
(Source：CryptoSlate)