Canary Capital Files for XRP ETF Nasdaq Listing Approval

Canary Capital has filed a Form 8-A with the US SEC, potentially paving the way for an XRP-backed ETF to trade on Nasdaq. The filing initiates a regulatory process that could see this listing occur within days if there are no objections.

Nasdaq Listing Progress

The ETF is set to trade under the ticker XRPC upon Nasdaq's approval and completion of the regulatory waiting period.
A recent amendment removal from Canary's S-1 filing starts a 20-day countdown to activation unless the SEC intervenes.

Canary Capital CEO Steven McClurg highlighted potential gains for the XRP ETF, suggesting it might surpass early performance metrics seen with Solana.

Fund Details

Management Fee: 0.50%
Custodians: Gemini Trust Company and BitGo Trust Company
Cash Custodian: US Bank
Administrative Role: US Bancorp Fund Services

As of October 8, 2025, XRP had a market value of $173 billion, placing it among the top five digital assets by market cap. Currently, its market cap stands at over $146 billion.

Market Reaction

XRP experienced significant price movements, gaining up to 8% intraday following news of the filings.
Despite this, XRP has recently decreased by 3.5% in the past 24 hours.