Canary’s XRP ETF Filing Sets Stage for November Breakthrough
- Canary Funds updated XRP ETF filing removes SEC delay control, potentially enabling automatic approval by November 13.
- The ETF will list on the Nasdaq stock market, and Gemini and BitGo will manage the custody services, providing a high level of security.
- Token is currently trading at $2.4401, down 4.4% from the previous price, and the resistance level is at $2.35.
Canary Funds has filed an updated S-1 registration for its XRP spot exchange-traded fund. The new filing removes the delayed amendment that previously allowed the U.S. Securities and Exchange Commission (SEC) to control when the ETF becomes effective under Section 8(a) of the Securities Act.
According to FOX Business journalist Eleanor Terrett, this update positions the Canary XRP ETF for potential automatic approval. If all conditions align, the ETF could launch on November 13. However, the timeline depends on Nasdaq’s approval of the listing application before that date.
SCOOP: @CanaryFunds has filed an updated S-1 for its $XRP spot ETF, removing the “delaying amendment” that stops a registration from going auto-effective and gives the @SECGov control over timing.
This sets Canary’s $XRP ETF up for a launch date of November 13, assuming the… pic.twitter.com/MKvEN23t5P
— Eleanor Terrett (@EleanorTerrett) October 30, 2025
The change essentially indicates that the XRP ETF might start operations without an explicit SEC approval. This comes at a time when crypto issuers continue seeing the faster route to regulatory approvals. In a recent development, Evernorth went public on Nasdaq with XRPN as its ticker after a major purchase of a $1 billion token treasury was made.
Multi-Asset ETF Filings Reflect Growing Market Demand
According to the updated prospectus, the Canary XRP ETF offers exposure to the token held in the trust. The ETF will trade on the Nasdaq and track the CoinDesk XRP CCIXber Reference Rate, which aggregates XRP prices across several large exchanges.
The custody of the underlying token will be shared between Gemini Trust Company and BitGo Trust Company. Such companies bring additional credibility and safety to the ETF structure. This announcement comes as a continuation of other filings at the DTCC for XRP, Solana, and HBAR listing in the Canary ETFs.
Analysts have called this filing a bold but calculated risk. Terrett stated that the amendment accelerates approval timing, while Bloomberg’s Eric Balchunas labeled it “an untested yet smart approach.” Unlike Solana’s ETF, Canary’s filing lacked extensive comment rounds with the SEC.
If the SEC raises no new concerns, this ETF could mark a breakthrough for tokens’ institutional adoption. Recently, T. Rowe Price has filed a multi-asset cryptocurrency ETF involving investments in Bitcoin, Ethereum, Solana, and XRP.
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Technical Outlook: Key XRP Price Zones
XRP fell 4.4% on Friday, October 31, proceeding from the previous day’s 2.06% fall, trading at $2.4401. Token prices remain below the 50-day and 200-day EMAs. However, upcoming ETF-related news could cause the market to reverse.
Key support levels are at $2.35, $2.2, $2.0, and $1.9. Resistance levels are at $2.50, $2.62, $2.8, $3.0, and $3.66. In the 50-day EMA chart, the resistance level is $2.6661, while the 200-day EMA sits near $2.6085.
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