XRP Spot ETF Set for Nov 13 Launch as SEC Delay Clause Removed
Quick Take Summary is AI generated, newsroom reviewed. Canary Funds removed the "delaying amendment" clause from its XRP spot ETF S-1 filing. This move uses Section 8(a) of the Securities Act, setting an auto-effective date of November 13. The ETF is planned to trade on Nasdaq and will use Gemini and BitGo as digital asset custodians. The strategy mirrors recent auto-effective launches of Solana, Litecoin, and Hedera ETFs.References CANARY REMOVES SEC DELAY CLAUSE — $XRP SPOT ETF NOW ON TRACK FOR NOVEMBER
The long-awaited XRP spot ETF could soon become a reality. Canary Funds has removed the SEC “delaying amendment” clause from its S-1 registration filing. It’s a move that clears the way for the XRP ETF to automatically take effect on November 13, 2025. The update has sparked fresh optimism in the XRP community. Which has been waiting for mainstream financial exposure to the digital asset.
Canary Funds Removes SEC Delay Clause
Canary Funds’ latest filing marks a bold step toward regulatory independence. The removal of the “delaying amendment” means the fund is invoking Section 8(a) of the Securities Act of 1933. This allows its registration to become automatically effective after 20 days. Unless the U.S. Securities and Exchange Commission (SEC) intervenes.
In simple terms, this eliminates the SEC’s control over when the ETF can go live. A move that accelerates the launch process. If no objections or additional comments are issued. The ETF will officially become effective by mid-November. The filing also confirms that the Canary XRP ETF will trade on Nasdaq. It is giving traditional investors a regulated way to gain exposure to XRP’s price without holding the token directly.
Structure and Custody Details
According to the prospectus, the Canary XRP ETF is designed to mirror the value of XRP, adjusted for operational costs. It references the CoinDesk XRP CCIX New York Rate. This aggregates XRP trading data across major platforms to ensure accurate pricing. Canary Capital Group LLC serves as the sponsor. While CSC Delaware Trust Company acts as the trustee and transfer agent.
U.S. Bank handles cash custody and Gemini Trust Company and BitGo Trust Company serve as the digital asset custodians. A dual setup aimed at enhancing security and transparency. This structure closely mirrors that of previously approved crypto ETFs. This signaling Canary’s intent to meet institutional standards.
Following the Playbook of Other Crypto ETFs
Canary’s strategy mirrors successful filings by other asset managers like Bitwise. Who recently launched spot Solana, Litecoin and Hedera ETFs using the same auto-effect mechanism. The method, reportedly supported by SEC Chair Paul Atkins, offers a legal route for ETF launches. Even when the Commission’s regular review process is slowed or suspended, such as during government shutdowns. By removing the delay clause, Canary is effectively setting the clock in motion. It is banking on a smooth 20-day countdown to approval.
What Comes Next
While the move signals confidence, the XRP ETF’s launch is not guaranteed. The SEC can still halt the process if it issues new comments or objections before the effective date. Additionally, the Nasdaq exchange must still approve the ETF’s Form 8-A application before trading can begin. Still, the move marks a major step forward for XRP’s mainstream adoption. If successful, the Canary XRP ETF could open a new gateway for institutional investors. It potentially triggers a new phase of momentum for the XRP ecosystem.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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