The U.S. Securities and Exchange Commission (SEC) has officially registered the Canary XRP exchange-traded fund (ETF), with Nasdaq set to begin trading the product this Thursday morning.
According to the SEC’s Form 8-A filing, the Canary XRP ETF will be listed on Nasdaq under the ticker symbol XRPC, providing investors with regulated access to XRP through an exchange-listed fund.
Canary XRP ETF Launch Marks New Phase for U.S. Crypto Funds
The SEC’s registration and Nasdaq’s listing announcement come after several months of regulatory review following the fund’s initial Form S-1 filing on October 24, 2023. Once live, the ETF will offer exposure to XRP via custodial-backed holdings within a regulated framework.
This development follows the successful launches of spot Bitcoin and Ethereum ETFs earlier in 2024, events that significantly expanded institutional participation in the crypto market.
Growing Momentum for Crypto ETFs in the United States
The Canary XRP ETF’s approval reflects increased regulatory acceptance of diversified digital-asset funds. Industry experts view this as a sign of broader openness toward cryptocurrency-based exchange-traded products.
XRP Market Reacts to ETF Confirmation
XRP’s price declined roughly 3% within 24 hours, trading near $2.33 at the time of reporting. The token saw a brief price spike following the ETF news but ultimately closed lower, indicating cautious sentiment among traders.
Despite the price drop, XRP’s 24-hour trading volume climbed to approximately $4.75 billion, signaling heightened market activity ahead of the ETF’s debut. The cryptocurrency holds a market capitalization of $140.6 billion, ranking it as the fourth-largest digital asset.
| Metric | Value |
|---|---|
| ETF Name | Canary XRP ETF |
| Ticker Symbol | XRPC |
| Listing Exchange | Nasdaq |
| Price Change (24h) | -3% |
| Current Price | $2.33 |
| 24-Hour Trading Volume | $4.75 billion |
| Market Capitalization | $140.6 billion |
