Canary Capital seeks approval for spot XRP ETF, anticipates Thursday launch

• Canary Capital has filed a Form 8-A with the SEC to launch a spot XRP ETF on the Nasdaq.
• The ETF is expected to go live on Thursday once it is certified by Nasdaq.
• Canary Capital previously launched spot ETFs for Litecoin and HBAR in October.

Canary Capital has filed a Form 8-A with the US Securities & Exchange Commission (SEC) to debut a spot XRP exchange-traded fund (ETF), building on its previous launch of spot HBAR and Litecoin (LTC) products.

Canary files Form 8-A with the SEC to debut XRP ETF

Canary Capital has submitted a Form 8-A registration to the US SEC on Monday, signaling progress toward the debut of the first spot XRP ETF in the US.

The proposed product is expected to go live by Wednesday or Thursday, according to Bloomberg ETF analyst Eric Balchunas, pending final certification from Nasdaq.

"Canary filed 8A for XRP ETF last night, which points to launch tomorrow or Thursday (today is holiday)," wrote Balchunas in an X post on Tuesday.

The submission comes after Canary Capital updated its S-1 registration statement for the proposed spot XRP ETF, which targeted a Thursday launch. By opting for the new listing route under Section 8(a) of the Securities Act, the firm positioned the filing to take effect after a 20-day period, provided the regulator raised no objections.

The product will offer investors indirect exposure to XRP's market price. Although the Canary Capital fund is being referred to as the first spot XRP ETF, REX-Osprey had already debuted its XRP product, the REX-Osprey XRP ETF (XRPR), under the Investment Company Act of 1940 in September. 

The fund made history as the first US-listed spot XRP product and recorded $31 million in trading volume by the end of the day.

The REX-Osprey XRP ETF differs from a traditional spot XRP fund primarily in its structure and regulatory framework. Organized under the "40 Act" framework, it holds most of its assets in spot XRP while also investing in related instruments such as cash, derivatives and Treasuries, making it a hybrid rather than a pure spot product.

Canary Capital's spot XRP filing comes on the heels of a growing wave of altcoin ETF activity in the United States. In October 2025, several issuers introduced similar products tied to Solana, Hedera Hashgraph (HBAR), and Litecoin, signaling an accelerated push to diversify crypto-based investment vehicles beyond the dominant Bitcoin and Ethereum markets. 

XRP trades around $2.39 in the early Asian session on Wednesday, down 6% over the past 24 hours.