Nasdaq approves Canary XRP ETF for listing
New digital assets product aims to attract institutional investors as exchanges embrace growing interest in regulated crypto exposure.
Key Takeaways
- Nasdaq has certified to the SEC that it approved the listing of the Canary XRP ETF.
- The ETF, which focuses on Ripple’s native asset, is ready for listing and trading, pending issuance notification.
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Nasdaq has approved the listing of the Canary XRP ETF following the submission of the required registration form, according to a certification letter dated November 12. This development indicates that the fund is cleared for listing and ready to go live once the SEC’s registration becomes effective.
According to Canary’s updated filing with the SEC submitted this week, the asset manager plans to begin trading its flagship XRP fund on the Nasdaq Stock Market around November 12–13.
With Nasdaq’s approval now in place, Bloomberg ETF analyst Eric Balchunas suggested that the ETF could launch as early as tomorrow.
The Canary XRP ETF will trade on Nasdaq under the ticker symbol “XRPC.” The ETF will track the XRP-USD CCIXber Reference Rate Index, offering a new avenue for both institutional and retail investors to gain exposure to XRP through traditional brokerage accounts.
The fund will charge a 0.5% yearly fee to cover management and operating costs.
