Canary Funds is on the verge of launching the first spot XRP Exchange Traded Fund (ETF) to be listed in the United States. Recent filings with the U.S. Securities and Exchange Commission (SEC) indicate that the fund is ready to trade, marking the final step in a long process. Nasdaq’s approval for the listing is expected by Thursday at 00:30 AM, and once this approval is granted, the ETF will be available for trading.
XRP Liquidity to Surge with ETF Launch
This ETF will serve as the first direct investment vehicle in the U.S. market for XRP, enabling investment advisors to gain exposure to XRP without directly investing in cryptocurrencies. Experts believe that this product will enhance market liquidity, attracting the attention of institutional investors, which in turn could improve the price discovery mechanism for XRP.
Operating under the Securities Act of 1933, the ETF’s assets will be backed by a one-to-one ratio of spot XRP. This approach provides lower tracking costs and a more advantageous tax structure compared to complex fund models. According to Bloomberg’s ETF analyst Eric Balchunas, the filing suggests that the fund is practically ready for execution.
A New Era for the Ripple Ecosystem
Approval of an XRP ETF is anticipated to pave the way for investment flows into networks beyond Bitcoin 
$76,115 and Ethereum 
$2,261. Unlike the recently launched $XRPR ETF by REX-Osprey, which incorporates a complex asset structure, Canary’s product is seen as a straightforward and direct investment tool. Analysts predict this development will bolster confidence in Ripple 
$1‘s financial infrastructure, offering institutional investors a novel diversification channel.
According to CoinDesk, the activation of the XRP ETF may represent a pivotal moment in the mainstream adoption of altcoin-based products. With Solana 
$83 ETF applications still pending decisions, the listing of XRP could enhance institutional access to the third-largest network in the U.S. crypto market.
