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The XRP ETF era has officially begun. Nasdaq certified the listing of Canary Capital’s spot XRP exchange-traded fund.
Author: Sahil Thakur
13th November 2025 – The XRP ETF era has officially begun. Nasdaq certified the listing of Canary Capital’s spot XRP exchange-traded fund, clearing the final hurdle for its U.S. debut. Trading under the ticker XRPC, the ETF is set to go live on November 13 marking the first time XRP gets a spot ETF listing in the United States.
This moment follows a rising wave of altcoin ETF approvals and reflects growing institutional appetite for regulated exposure to crypto beyond Bitcoin and Ethereum.
Canary used the auto-effective registration route under Section 8(a) of the Securities Act. By removing a delaying amendment, it triggered a 20-day countdown. With no SEC objection, the listing became effective automatically.
On November 12, Nasdaq Regulation confirmed the approval with a certification letter signed by Eun Ah Choi. The strategic timing during a period of low SEC activity amid a government shutdown likely helped the process move forward smoothly.
This listing marks a critical milestone for XRP. After years of regulatory battles surrounding Ripple, the token is finally gaining traction inside traditional finance. Analysts now view the XRPC listing as a sign of rising institutional confidence and a possible tipping point for broader XRP adoption.
The XRP ETF isn’t alone. Over the past few months, spot ETFs for Solana, Litecoin, and Hedera have launched, all showing impressive early demand. Bitwise’s Solana ETF, for instance, saw $72 million in volume on its second day alone.
REX-Osprey’s XRP futures-based ETF also made noise with $24 million traded in its first 90 minutes back in September. It has since grown to over $100 million in assets under management.
Now, eleven XRP ETF products are listed on the DTCC, including filings from major firms like Bitwise, CoinShares, Grayscale, Franklin Templeton, and 21Shares.
Leading up to the approval, on-chain data revealed a mix of bullish and cautious behavior. Over 216 million XRP left exchanges last week – usually a bullish signal, indicating holders prefer storage over trading.
But whales acted differently. Large holders sold off 10 million XRP in the final two days before the news. Long-term investors offloaded over 135 million tokens since early November, suggesting some expected a “sell-the-news” correction.
Meanwhile, retail interest surged. Active addresses hit a 3-month high, and buying activity outpaced selling, according to CryptoQuant’s CVD metric.
XRP traded at $2.39 following the announcement, down slightly but still near local highs. Technical analysts eye $2.88 as a key breakout level. A close above could spark a rally toward $5 in Q4. Some bulls even see $10–$20 in reach if institutional inflows match those seen after Bitcoin’s ETF launch.
The chart shows a falling wedge structure, with $2.31 acting as the key support. Losing that level risks a dip to $2.06. For now, XRP sits near its 0.382 Fibonacci level – a classic pivot zone.
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In a post-listing interview, Canary Capital’s CEO said the XRPC launch could exceed the success of Solana’s ETF debut. He argued that while Solana captures retail traders, XRP’s strength lies with financial institutions.
He added: “Even though XRP’s market cap is only about 50% higher than Solana’s, we expect inflows to be double or even triple due to institutional demand.”
The XRP community has long waited for this. After years of regulatory fog, the XRPC launch brings clarity and momentum. With multiple other XRP ETFs awaiting review, this could be just the beginning.
If institutions pile in, as they did with Bitcoin – XRP could enter a new price and narrative cycle. Whether that happens immediately or unfolds over months remains to be seen.
But make no mistake: XRP just became a regulated, tradable asset in U.S. capital markets.
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