The U.S. Securities and Exchange Commission has approved the first spot
XRP
exchange-traded fund, paving the way for the asset to begin trading on
Nasdaq
as soon as November 13, 2025. The
Canary XRP ETF
, which will use the ticker XRPC, represents a significant regulatory breakthrough for Ripple’s token, long scrutinized by the SEC. With institutional interest rising and its sponsor forecasting over $5 billion in inflows during the first month,
according to its sponsor
, this ETF could spark a new wave of XRP adoption.
Structured under the Securities Act of 1933, the ETF
follows the XRP-USD price using the CCIXber Reference Rate Index
and carries a 0.5% annual management fee. Nasdaq’s approval on November 12 confirmed the fund’s compliance with all listing criteria,
in line with the SEC’s anticipated effectiveness
of its registration at 5:30 PM ET that day.
This swift approval process signals a broader regulatory evolution, as
the agency has simplified procedures
for commodity-based ETFs under updated generic listing guidelines.
The market responded instantly. XRP
jumped 12% to $2.48
following the announcement, with trading volume soaring 40% within a day.
Analysts credit the positive sentiment
to increasing institutional trust, especially after the full resumption of government operations ended a prolonged regulatory pause. “This is the final nail in the coffin for the previous anti-crypto regulators,” Bloomberg ETF analyst Eric Balchunas posted,
highlighting the ETF’s role in integrating XRP
into mainstream portfolios.
The ETF’s debut comes as several XRP-related funds are in the pipeline.
Eleven XRP ETFs are now listed
on the Depository Trust and Clearing Corporation (DTCC) website, indicating readiness for trading infrastructure. However,
DTCC listings do not guarantee
regulatory clearance, as the SEC must still declare each fund’s registration effective. Canary Capital’s ETF, which submitted its S-1 on October 24,
has already achieved this milestone
, making it the first to launch.
Institutional participants are acting quickly as well.
Custodians such as Gemini Trust and BitGo
have secured XRP assets for the ETF, while U.S. Bancorp and others manage administrative operations.
CEO Steven McClurg drew comparisons
to the launches of
Bitcoin
and
Ethereum
ETFs, which attracted over $17 billion in net inflows after their debuts. Should XRP follow a similar path, it may
enhance liquidity and reduce volatility
for the token.
Yet technical signals are mixed. While
active addresses on the XRP Ledger climbed
40% to 32,000 in three days, showing increased network activity, derivatives data points to subdued retail interest.
Futures open interest has dropped
since October, and the OI-weighted funding rate remains negative at 0.0024%.
Glassnode data further indicates
a 5.6% rise in circulating supply over the past year, as Ripple continues to release locked tokens.
Despite these challenges, the ETF’s introduction is a symbolic win for XRP. After a five-year legal standoff with the SEC,
Ripple now offers a regulated investment option
for mainstream investors. The ETF’s performance may
depend on overall market sentiment
, with experts like Digital Ascension Group’s Jake Claver predicting XRP could hit $100 by year’s end or even $1,500 by early 2026.
As trading nears, investors will monitor inflows and price steadiness. With a 0.5% fee, competitive among crypto ETFs, the fund is positioned to capture part of the $50 billion digital asset ETF sector. For XRP, the future hinges on regulatory transparency and institutional uptake—a journey that now has a clear beginning.
