• Canary Capital’s XRP ETF receives Nasdaq approval, set to begin trading today under XRPC.
• The ETF is the first spot-based XRP fund to hold XRP directly under the Securities Act of 1933.
• Analysts expect significant inflows for Canary Capital’s XRP ETF, comparing it to early Bitcoin ETFs.

Canary Capital XRP ETF has been approved by Nasdaq to officially start trading today. The fund will be traded under the XRPC ticker and will track the XRP-USD CCIXber Reference Rate Index. This is one of the most important milestones of the cryptocurrency market, and investors will have a classic approach to exposure to XRP.

The ETF is the first complete spot-based XRP fund under the securities Act of 1933. This fund can hold XRP directly, unlike other types of funds. The certification by Nasdaq ensures that the ETF has gone through all the regulatory requirements. Bloomberg analyst Eric Balchunas affirmed that the ETF would launch today.

Canary Capital Clears Final Regulatory Step for Nasdaq Approval

Canary Funds submitted its last Form 8-A with the SEC earlier this week, which is the last regulatory move before the Nasdaq approval. The CEO, Steven McClurg, was excited about the launch, as it indicated that the SEC supports free markets.

“We are very excited to go effective with the first single-token spot XRP ETF. This would not have been possible without the leadership of Chairman Atkins, Commissioner Pierce and all of the other fine people at the SEC who are pro-free markets,” he said.

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Canary Capital is a leader in the emerging ETF market, which is crypto-based as a result of the ETF approval. Similar products are also in the works at other companies such as Franklin Templeton, Bitwise, and CoinShares, among others. The DTCC may list these funds soon, resulting in intense competition in the field.

XRP ETF Set to Follow Bitcoin and Ethereum, Analysts Predict

Analysts are expecting major inflows of the Canary Capital XRP ETF, which they compare with the initial years of Bitcoin and Ethereum spot ETFs. According to ETF expert Nate Geraci, it will be the fourth single-crypto ETF, after BTC, ETH, and SOL. The ETF release has the opportunity to boost liquidity and attract more investors to the crypto market.

This is in line with a positive change in the market after the US government shutdown was lifted. President Trump signed a bill that formally ended the shutdown, and the analysts think that it would inject more life into the economy. This may give a push to such digital assets as XRP.

Meanwhile, in a recent speech, SEC chairman Paul Atkins has emphasized the establishment of better regulatory frameworks in the cryptocurrency markets. This announcement may assist in opening the door to additional crypto-based funds, such as the XRP ETF offered by Canary Capital, to gain greater regulatory transparency.

Also Read: XRP Rally Explodes: ETF Approval Could Propel Price Toward $3