The first-ever spot XRP exchange-traded fund (ETF) has officially gone live after securing approval from Nasdaq.
The product, managed by Canary Capital, is the first XRP ETF registered under the Securities Act of 1933.
Trading under the ticker XRPC, the fund was certified for public launch late on Wednesday. This marks another milestone in integrating digital assets into the US financial system.
Nasdaq clears Canary Capital’s XRP ETF
Nasdaq Regulation’s Eun Ah Choi confirmed the ETF’s certification in a letter submitted to the US Securities and Exchange Commission (SEC).
The approval followed a 20-day automatic review period triggered when Canary Capital filed Form 8-A under Section 8(a) of the 1933 Act.
By removing its delaying amendment, the registration became effective automatically unless the SEC raised objections.
Nova Dius Wealth President Nate Geraci highlighted the development on social platform X, noting the ETF website was live.
He initially stated the fund was the fourth single-asset crypto ETF after Bitcoin, Ethereum, and Solana. He later clarified it was the sixth, including Litecoin and Hedera.
Former FOX News correspondent and Crypto In America host Eleanor Terrett confirmed the certification.
She stated that Nasdaq cleared XRPC for trading as of 5:30 PM ET on Wednesday. In a statement to Crypto In America, Canary Funds CEO Steven McClurg said the firm was “very excited” to launch the product.
He credited SEC Chairman Paul Atkins and Commissioner Hester Pierce for fostering a “pro-free markets” approach that encouraged innovation.
Canary Capital also filed to create an exchange-traded fund linked to MOG Coin, a memecoin on the Ethereum blockchain. The firm submitted its S-1 registration statement on Wednesday to seek approval for the new product.
Altcoin ETF momentum and policy developments
The XRP ETF joins other approved altcoin-based funds, including those for Solana, Litecoin, and Hedera.
Bitwise’s Solana ETF recorded $56 million in first-day trading volume, which increased to $72 million the next day.
REX-Osprey’s XRP futures ETF, launched in September, reached $24 million in its first 90 minutes. By late October, it surpassed $100 million in assets under management.
Speaking at the Philadelphia Fed Fintech Conference, SEC Chair Paul Atkins said most crypto tokens are not automatically securities.
He emphasized that “an investment contract doesn’t persist solely because the underlying asset trades on-chain.” Atkins urged regulators to assess tokens by their function and context.
The XRP ETF approval coincided with the US House of Representatives voting 222–209 to end the 42-day government shutdown. President Donald Trump signed the bill into law at 9:45 PM ET, restoring federal operations.
Meanwhile, the Senate Agriculture Committee, led by Chairman John Boozman and Senator Cory Booker, discussed a bipartisan crypto market structure bill.
Industry groups supported the effort but noted the absence of decentralized finance (DeFi) and anti-money laundering measures.
A trade association spokesperson told Crypto In America that the bill was “a good start” but needed further revisions.
Insiders expect the Senate Banking Committee to refine it through the Blockchain Regulatory Certainty Act (BRCA).
The XRP ETF approval highlights the growing cooperation between regulators and the digital asset industry in the United States.