First US Spot XRP ETF on the Brink of Launch: What’s Coming?

First US Spot XRP ETF on the Brink of Launch: What’s Coming?

The crypto community is on the verge of a big event. The US exchange Nasdaq officially announced on Wednesday that it has received a Form 8-A from Canary Capital for its first spot XRP ETF, called XRPC. This means that the launch of the fund could come as early as this Thursday, although final approval from the SEC is still missing.

Analysts and observers expect Nasdaq to approve the ETF for trading when the market opens on Thursday. Bloomberg Senior ETF Analyst Eric Balchunas said that “the official announcement has come and the launch is scheduled for tomorrow.” Although the certification is considered an important step, the SEC has still not issued a final permit, which means that trading is not yet certain.

With this move, Canary Capital becomes the first in the market to plan to list a spot XRP ETF. Nate Geraci of NovaDius Wealth Management said that their fund will be the sixth standalone crypto ETF in the US, noting that the company has already launched a website for XRPC, suggesting that the launch is very close.

However, some experts caution that the letter from Nasdaq is only procedural and does not mean that trading will begin immediately. Eleanor Terretto of Crypto America noted that the exchange’s approval does not mean an automatic launch, only confirmation of listing.

This expected launch comes after weeks of speculation and previous estimates that the XRP ETF could appear as early as two weeks ago. The potential launch is also significant given the recent end of the longest government shutdown in US history, which was ended by President Donald Trump’s signing of the bill.

While Bitcoin and Ether ETFs began trading immediately after approval, it is common for newer cryptocurrencies such as Solana and Litecoin to start trading the next day. Given the current circumstances, it is possible that the XRP ETF will also suffer a similar fate, although everything depends on the final decision of the SEC.

So let's watch to see if the first US spot XRP ETF will actually be launched this Thursday, or if we still have to wait for further procedural steps. One thing is certain - the cryptocurrency markets are once again one step closer to greater acceptance and integration of digital assets into the mainstream investment environment.

*This is not an investment recommendation.

The Coingarage Team