XRP Today News: Canary XRP ETF approved for listing on Nasdaq; its first-week performance may be twice that of Solana ETF.

On November 10, 2025, Canary Capital submitted Form 8-A to the U.S. Securities and Exchange Commission (SEC), signaling the automatic effectiveness approval of its spot XRP ETF, which will be listed and traded on the NASDAQ during that week under the ticker symbol “XRPC.” The ETF’s management fee is set at 0.50%, notably higher than the 0.34% fee of the Bitwise XRP ETF. However, Canary CEO Steven McClurg predicts that “XRP ETF’s first-week performance may surpass twice that of the Solana ETF.”

Following this news, XRP’s price rose nearly 10% during the week to $2.48, with trading volume surging 40%. Futures open interest increased by 3% on CME and 12% on mainstream centralized exchanges (CEX). Although technical indicators remain constrained by the 50-day and 200-day moving averages, the ETF listing could serve as a short-term catalyst for a rebound.

XRP ETF Regulatory Breakthrough and Listing Process Analysis

The submission of Form 8-A by Canary XRP ETF marks a significant regulatory milestone for cryptocurrency in the U.S. This form, under the Securities Act of 1933, functions as a registration statement that becomes effective upon filing, allowing the fund to list on a national exchange without requiring additional SEC approval. NASDAQ’s approval for listing XRPC indicates that this will be the first physical XRP ETF launched under the Securities Act rather than the Investment Company Act of 1940, thereby avoiding more stringent regulatory scrutiny.

According to the filing, the trust’s investment objective is “to provide exposure to XRP’s price,” with its net asset value (NAV) tracking the XRP-USD CCIXber Reference Rate Index. The trust is jointly managed by Gemini Trust Company and BitGo Trust Company, with U.S. Bancorp Fund Services serving as transfer agent and administrator.

Expert Nate Geraci notes that this breakthrough is a major victory for Ripple in its fight against “anti-crypto regulators,” especially considering the ongoing legal dispute where the SEC has classified XRP as an unregistered security. As of November 11, only the CERT filing (which details trading dates) remains to be completed, with the ETF expected to officially commence trading on Thursday, November 13.

Canary XRP ETF Product Structure and Market Positioning

The product design of the Canary XRP ETF reflects a strategic balance between fee competitiveness and value proposition. The 0.50% management fee is relatively high compared to other XRP ETFs—bitwise’s 0.34% and VanEck’s 0.36%. However, Canary justifies this premium through its operational architecture: the fund employs a dual-custodian model to enhance asset security, with U.S. Bank subsidiary acting as the cash custodian to ensure compliant management of fiat holdings.

In terms of market size, Steven McClurg’s prediction of “twice the first-week performance of Solana ETF” is based on XRP’s existing ecosystem—current market cap around $130 billion, with an average daily spot trading volume of $4.5 billion—far exceeding SOL ETF’s pre-listing market cap of $80 billion and $2.5 billion trading volume.

Notably, Canary has previously launched Litecoin and HBAR ETFs successfully using the same model. The automated approval process via the combination of Form 8-A and CERT files provides a viable template for future altcoin ETFs. However, investors should monitor fee competition: if competitors like Bitwise lower fees to attract capital, Canary may need to introduce fee waivers to maintain market share.

Key Data for Canary XRP ETF

• Listing Exchange: NASDAQ
• Ticker: XRPC
• Management Fee: 0.50% (no waiver)
• Reference Index: XRP-USD CCIXber Reference Rate
• Custodians: Gemini Trust Company + BitGo Trust Company
• Cash Custodian: U.S. Bank (transfer agent affiliate)
• XRP Price Reaction: +10% week to $2.48
• Futures Open Interest Growth: CME +3%, Mainstream CEX +12%

XRP Price Impact and Technical Signals

Driven by ETF approval news, XRP demonstrated strong momentum, rebounding from $2.25 on November 7 to $2.48, with intraday highs reaching $2.58. However, technical signals remain cautious: XRP continues to trade below the 50-day SMA ($2.54) and the 200-day SMA ($2.61), with a “death cross” formation—typically a mid-term bearish indicator.

Conversely, derivatives market data show conflicting signals: Ethereum futures open interest surged 12% to $4.07 billion, XRP futures positions on CME increased by 3%, and retail holdings on major CEX soared 12%. These suggest active short-term battles between bulls and bears.

Historically, ETF listings often trigger a “buy the rumor, sell the news” pattern—Solana ETF’s first-week price rose 18% before retracing 12%. XRP’s unique situation involves long-standing regulatory uncertainty; ETF approval could unlock suppressed institutional demand. Key resistance is at $2.65 (200-day SMA), with support at $2.35 (previous low). A break above or below these levels will shape the near-term trend.

Market Impact and Investment Strategy Post-XRP ETF Approval

The listing of Canary XRP ETF not only influences XRP itself but could reshape regulatory expectations and capital flows within the altcoin market. From a regulatory perspective, SEC’s approval of an ETF based on the Securities Act of 1933 suggests a potential acceptance of certain altcoins as “non-security digital assets,” opening pathways for projects like ADA, DOT, and others to seek compliant status.

Capital inflows are notable: the SOL ETF attracted $420 million in the first week. If XRP achieves McClurg’s predicted “double performance,” it could attract an additional $800 million to $1 billion in institutional funds—equivalent to roughly 0.8-1.0% of XRP’s market cap.

For investors, an event-driven approach is advisable: consider accumulating on dips before ETF launch; if initial day inflows exceed $200 million, holding may be justified; otherwise, profit-taking could be prudent. Long-term investors should monitor ongoing fund flows and Ripple’s business developments (e.g., banking licenses), maintaining XRP allocations at 5-8% of their portfolios.

Risks include potential delays in government resolution efforts and the resurgence of Bitcoin dominance, which could draw capital away from altcoins.

Conclusion

The NASDAQ listing of Canary XRP ETF marks a new milestone in crypto regulation and institutional adoption, providing a compliant exit for XRP long plagued by legal uncertainties. Despite technical pressures and higher management fees, regulatory breakthroughs and ecosystem fundamentals support a potential price rebound. Investors should seize event-driven opportunities but remain cautious of historical “buy the rumor, sell the news” patterns, closely monitoring fund flows post-listing to assess trend sustainability.