Hassan Maishera
TL;DR
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Nasdaq is set to list the Canary XRP ETF today.
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XRP is up 5% in the last 24 hours, outperforming the other major cryptocurrencies.
Canary XRP ETF to Debut on the Nasdaq Exchange
Nasdaq announced on Wednesday that it is set to list Canary Capital Group's exchange-traded fund tracking the price of XRP, the fourth-largest cryptocurrency by market capitalization.
The exchange revealed this in a filing sent to the U.S. SEC. Nasdaq added that it certified the Canary XRP ETF and that it has been approved by the exchange to list. The ETF will be listed on the exchange on Thursday, November 13th, under the ticker symbol XRPC.
This latest development comes as crypto ETFs have been listed on exchanges despite the U.S. government shutdown. The SEC issued guidance that clarified procedures for firms seeking to go public.
Per the guidance, the regulator stated that firms can file an S-1 registration statement without what's called a delaying amendment. A delaying amendment means the ETF wouldn’t go into effect after 20 days, allowing the regulator to have the time to work through comments. The ETF also has to meet specific listing standards, which were approved by the SEC in September.
Canary filed the Form 8-A on Tuesday for its CRP ETF. Other asset managers, including Bitwise, 21 Shares, WisdomTree, ProShares, and Grayscale, have also proposed similar XRP ETFs.
With the Canary XRP ETF set to go live, a few other crypto ETF proposals, including one tracking DOGE and another XRP from Grayscale, could go effective by Nov. 23. 21Shares also plans to launch its XRP ETF after the U.S. government reopens.
