XRP ETF Ready to Launch: Canary Funds Clears Final SEC Roadblock

 

XRP ETF Approval Nears as Canary Funds Clears Final SEC Hurdle

The cryptocurrency market is poised for a historic moment as the long-awaited XRP exchange-traded fund (ETF) inches closer to approval in the United States. Canary Funds, a well-known issuer of crypto investment products, recently submitted an updated S-1 filing with the Securities and Exchange Commission (SEC) that removes the “delaying amendment,” a provision that historically allowed the regulator to postpone the fund’s effective date. With this amendment removed, the spot XRP ETF could automatically go live following a standard 20-day waiting period, potentially launching as early as November 13, 2025.

This development marks a critical turning point for investors seeking regulated exposure to XRP without the need to hold the digital asset directly. Unlike traditional crypto trading, ETFs offer a more secure and structured approach, bridging the gap between mainstream finance and the rapidly growing digital asset market.

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Canary Funds Moves Closer to Launch

The removal of the delaying amendment effectively clears the final regulatory hurdle for Canary’s XRP ETF. In practical terms, the SEC can no longer hold back the ETF’s activation, which means the fund will go live automatically once the prescribed waiting period concludes.

SEC Chair Paul Atkins has publicly endorsed this approach, citing its previous successful use by firms like MapLight to navigate regulatory delays. Similar strategies helped Canary and Bitwise launch ETFs tied to Solana (SOL), Hedera (HBAR), and Litecoin (LTC) earlier this year, setting a precedent for XRP’s entry into the U.S. ETF market.

REX-Osprey XRP ETF Hits $100 Million in Assets

Investor enthusiasm is already evident. The REX-Osprey XRP ETF (XRPR), launched on September 18, 2025, achieved $100 million in assets under management within its first month. This milestone underscores strong demand for regulated crypto investment products and signals confidence from both retail and institutional investors.

As the first U.S. spot XRP ETF, the fund primarily holds XRP-related assets, allowing investors to track the cryptocurrency’s performance without directly owning tokens. This approach mitigates risks associated with self-custody while providing exposure to XRP’s market potential.

Implications for the U.S. Crypto Market

The upcoming ETF approval could significantly reshape the U.S. digital asset landscape. Unlike previous filings delayed by government shutdowns and regulatory backlogs, Canary’s ETF is now positioned to move forward without impediments. Other issuers, including WisdomTree and CoinShares, continue to await approval for their own XRP ETFs, highlighting the broader market demand for regulated crypto investment channels.

Comparisons with international markets further illustrate the potential impact. Brazil’s Hashdex XRPH11 fund, for instance, has raised approximately $52 million, whereas XRPR has already surpassed $100 million in AUM, reflecting robust investor appetite for regulated XRP exposure in the United States. Analysts believe this approval could catalyze additional crypto-based financial products and attract new institutional capital into the sector.

Institutional Confidence and Market Dynamics

Institutional investors are increasingly showing confidence in XRP. CME Group has expanded trading options and futures contracts, boosting liquidity and market participation. Evernorth, a prominent investment firm, has announced plans to include XRP in its reserves, signaling growing acceptance among large financial players.

Currently, XRP trades at $2.48, reflecting a modest dip in line with broader market movements. Analysts anticipate that approval of the XRPR fund could serve as a positive catalyst, potentially driving a rebound in price while enhancing XRP’s visibility among mainstream investors.

Bridging Wall Street and Crypto

The XRP ETF represents more than just a new investment vehicle; it symbolizes a convergence between traditional finance and the digital asset economy. By providing a regulated framework for XRP exposure, ETFs allow mainstream investors to participate without navigating the complexities of crypto exchanges, private wallets, or custody solutions.

Financial experts suggest that successful ETF launches could open the door to a wider range of crypto-based investment products, including funds that track multiple digital assets or hybrid portfolios combining traditional and crypto securities. Such developments could help bridge the long-standing gap between Wall Street and the blockchain industry, fostering broader adoption and market integration.

Looking Ahead: What Investors Should Expect

If the XRPR fund goes live as scheduled, November 13, 2025, may mark a landmark date in U.S. crypto history. Market observers predict that the ETF’s launch will bring substantial inflows, possibly encouraging additional institutional interest in other digital assets.

The successful launch of an XRP ETF could also spur regulatory clarity for future crypto investment products, setting a precedent for other altcoins seeking mainstream adoption. While retail investors await the opportunity to gain exposure through regulated channels, institutional players may leverage ETFs for portfolio diversification and risk management.

Conclusion

Canary Funds’ recent filing removes the last SEC-related barrier to XRP ETF approval, signaling a potentially transformative moment for the U.S. crypto market. The XRPR fund has already demonstrated strong investor interest, with $100 million in AUM in its first month, underscoring the demand for secure, regulated access to digital assets.

As the launch date approaches, market analysts expect that the XRP ETF could not only influence price dynamics but also pave the way for broader integration of cryptocurrencies into traditional finance. Whether this development will cement XRP’s role alongside Bitcoin and Ethereum remains to be seen, but the stage is clearly set for a new chapter in the adoption of digital assets.

Writer @Ellena

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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