Nasdaq Certification Fuels Expectations for First US XRP ETF

Anticipation is building across the crypto market as Nasdaq has formally certified the listing of Canary Capital’s spot XRP ETF - a major step toward what could become the first US-listed exchange-traded product backed directly by XRP.

On Wednesday, the exchange notified the Securities and Exchange Commission that it had processed the Form 8-A registration for the Canary XRP ETF, trading under the ticker XRPC. Bloomberg ETF analyst Eric Balchunas shared the update on X, noting that the listing notice had arrived and that a Thursday launch “looks on,” though nothing is final until the SEC gives formal clearance.

Despite growing confidence from analysts and ETF watchers, the regulator has not yet issued the final green light for trading to begin. As a result, the fund’s debut remains uncertain going into the next market session.

Set to Become the Sixth Single-Asset Crypto ETF

Nate Geraci, president of NovaDius Wealth Management, pointed out that Canary has already launched its website for the product, signaling that preparations are largely complete. If approved, XRPC would be the sixth single-asset crypto ETF in the United States, joining products tied to Bitcoin, Ether, Solana, Litecoin and Hedera.

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Industry commentators, including Eleanor Terrett of Crypto America, expressed optimism after Nasdaq confirmed that the listing could activate at the market open. Still, several analysts reminded traders that Nasdaq’s letter is procedural – a confirmation that the exchange has approved the listing, not a guarantee that trading can begin.

Experts have been expecting an XRP ETF launch for weeks, with Geraci predicting a late-October debut earlier this month. The timing aligns with the US government’s recent reopening, after President Donald Trump signed a bill ending the longest shutdown in US history – an event that delayed portions of the SEC’s review pipeline.

Earlier spot Bitcoin and Ether ETFs went live the day after their approvals, while newer funds – including Solana, Litecoin and Hedera – launched the day after their exchange listings under updated SEC procedures. Some analysts have speculated that the government shutdown may have pushed certain crypto ETFs to rely on automatic-effectiveness rules that allow products to move forward during periods when regulators cannot actively process filings.

If the SEC signs off in time, XRPC could be trading on Thursday – marking a milestone moment for both XRP and the expanding crypto ETF landscape.