Canary Capital XRP ETF Sets November 13 Launch Date

Asset management firm Canary Capital has taken a decisive step toward launching its spot XRP ETF by filing an updated S-1 registration statement with the Securities and Exchange Commission. The firm removed the crucial ‘delaying amendment’ from its application, setting up the fund for a potential November 13, 2024 launch date. This strategic move follows the same approach that enabled Canary’s successful launches of Solana, Litecoin, and HBAR ETFs earlier this week.

🚨SCOOP: @CanaryFunds has filed an updated S-1 for its $XRP spot ETF, removing the “delaying amendment” that stops a registration from going auto-effective and gives the @SECGov control over timing.

This sets Canary’s $XRP ETF up for a launch date of November 13, assuming the… pic.twitter.com/MKvEN23t5P

— Eleanor Terrett (@EleanorTerrett) October 30, 2025

Auto-Effective Mechanism Bypasses Traditional Approval Timeline

The removal of the delaying amendment enables Canary’s XRP ETF to utilize the 20-day auto-effective mechanism under federal securities law. This provision allows the registration to become effective automatically unless the SEC intervenes with objections or additional comments. The mechanism represents a significant shift from traditional ETF approval processes that can extend for months or years. Eleanor Terrett, host of Crypto in America, noted that SEC Chair Paul Atkins supports companies using this auto-effective route during the current government shutdown. The timing could accelerate if regulatory staff completes their review without raising concerns.

Market Analysts Predict Billion-Dollar Fund Status Within Months

Investment professionals believe an approved XRP ETF could generate substantial institutional interest despite skepticism within crypto circles. Matt Hougan, Bitwise’s Chief Investment Officer, predicts that a spot XRP ETF would ‘easily become a billion-dollar fund within the first few months’ of launching. Hougan attributes this optimistic forecast to the dedicated XRP community, often called the ‘XRP Army,’ which demonstrates consistent buying behavior. His assessment suggests that institutional capital flows could exceed market expectations based on retail investor enthusiasm. Bloomberg ETF strategist Eric Balchunas remains cautious, noting that XRP issuers haven’t engaged in the same SEC dialogue that Solana ETF applicants completed.

🔥Canary Capital CEO says $XRP ETF can do $5 BILLION in the first month and can outperform $ETH from pure financial services👀🤯

FULL INTERVIEW👇👇https://t.co/s2BFB7F9mk#xrparmy #ripple #XRPCommunity #XRP pic.twitter.com/AqrgeSnjIz

— Paul Barron Network (@paulbarrontv) August 29, 2025

Twenty Pending Applications Create Competitive Landscape

The XRP ETF market represents one of the most crowded application fields in cryptocurrency investment products. Currently, approximately twenty XRP ETF applications await SEC review, slightly behind Bitcoin’s 23 filings but ahead of Ethereum’s 16 pending proposals. Major financial institutions including Grayscale, 21Shares, Bitwise, WisdomTree, Franklin Templeton, and CoinShares have submitted applications throughout 2024. The Rex-Osprey XRP ETF launched six weeks ago under an uncommon ’40 Act structure, crossing $100 million in assets while operating as an investment company rather than a commodity trust. This competitive environment could drive innovation in fee structures and investment strategies once traditional spot ETFs receive approval.

XRP ETF Landscape Points to Expanding Institutional Adoption

The momentum behind XRP ETF applications reflects broader institutional interest in cryptocurrency exposure through regulated investment vehicles. Government shutdowns and regulatory delays have pushed asset managers toward creative approval mechanisms like auto-effective registrations. Industry experts anticipate that successful XRP ETF launches could pave the way for additional cryptocurrency ETFs, with some predicting over 200 digital asset funds within twelve months. The regulatory environment continues evolving as SEC leadership signals openness to crypto investment products under appropriate frameworks. Canary Capital’s approach demonstrates how asset managers adapt to regulatory uncertainty while pursuing new market opportunities in digital assets. Follow Genfinity for continued coverage of ETF developments and their impact on cryptocurrency markets.

Disclaimer: News content provided by Genfinity is intended solely for informational purposes. While we strive to deliver accurate and up-to-date information, we do not offer financial or legal advice of any kind. Readers are encouraged to conduct their own research and consult with qualified professionals before making any financial or legal decisions. Genfinity disclaims any responsibility for actions taken based on the information presented in our articles. Our commitment is to share knowledge, foster discussion, and contribute to a better understanding of the topics covered in our articles. We advise our readers to exercise caution and diligence when seeking information or making decisions based on the content we provide.