Nasdaq Approves Canary Capital’s Spot XRP ETF for Trading Under Ticker XRPC, Marking a Milestone ...

Nasdaq approves the first spot XRP ETF giving investors direct market access through ticker XRPC.

Canary Capital leads US crypto funds with its launch of the first single token XRP ETF on Nasdaq.

XRP trading starts today with analysts watching investor inflows and market reaction to the new ETF.

Nasdaq has approved the Canary Capital XRP Exchange-Traded Fund (ETF) for trading under the ticker symbol XRPC. The fund begins trading today, becoming the first single-token spot XRP ETF listed on a major U.S. exchange. This certification marks a major step for regulated cryptocurrency investment in traditional markets

The ETF tracks the XRP-USD CCIXber Reference Rate Index, which measures the value of XRP against the U.S. dollar. It allows investors to gain exposure to XRP without holding the cryptocurrency directly. The product will trade like any other exchange-traded fund through standard brokerage platforms.

Regulatory Pathway and Launch Details

Canary Capital registered under Section 8(a) of the Securities Act of 1933. The company has submitted Form 8-A to the Security and Exchange Commission (SEC) earlier this week. By removing a delaying amendment, the company activated an automatic approval window. Nasdaq Regulation confirmed the listing’s certification in a letter to the SEC on November 12

The approval cleared the final step before trading. The fund’s launch positions Canary Capital as the first issuer of a spot-based XRP ETF in the United States. The timing of approval coincided with reduced SEC activity during the recent government shutdown, which may have supported a smoother certification process.

Market Response and Institutional Interest

The ETF launch follows rising interest in altcoin investment products. Other issuers, including Franklin Templeton, Bitwise, and 21Shares, are also developing XRP-based funds. Recent altcoin ETFs such as Solana and Litecoin have attracted strong institutional demand. Bitwise’s Solana ETF recorded $56 million in first-day trading volume

Market analysts expect similar inflows into the new XRP product. As of November several XRP ETF filings appeared on the Depository Trust & Clearing Corporation website. This increase highlights growing confidence following the SEC’s July 2025 guidance on crypto asset exchange-traded products.

XRP Market Dynamics Ahead of Launch

On-chain data show mixed sentiment before trading began. More than 216 million XRP, valued near $556 million, left exchanges during the week before certification. This trend suggests many investors are holding rather than selling. Nonetheless, the bigger holders shrunk by approximately 10 million XRP prior to the launch. More than 135 million tokens were also sold by long-term holders in early November, which were probably profitable

Active XRP is also near a three-month peak indicating increased network activity. There was a decrease in open interest in XRP futures showing reduced interest in leveraged trades. Thursday morning saw XRP move slightly down to almost $2.39, following the news about the certification. Analysts expect potential volatility as investors react to the ETF’s first trading sessions.