Key Takeaways
- Canary Capital plans to launch a spot XRP ETF next week after recent launches of Litecoin and Hedera ETFs.
- Generic listing standards and six months of futures activity enable faster ETF approval using a no-delay amendment.
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Canary Capital aims to launch a spot XRP exchange-traded fund next week, following the debut of its Litecoin and Hedera ETFs last week, according to CEO Steven McClurg.
“We just launched the first two ETFs last week and we’re hoping to launch an XRP ETF next week,” McClurg said during a Ripple Swell 2025 panel hosted by Bloomberg ETF analyst Eric Balchunas. Bitwise CEO Hunter Horsley and Bitnomial CEO Luke Hoersten also participated in the panel.
Explaining the regulatory pathway that enables the launch, McClurg stated that with generic listing standards now approved, asset managers can launch ETFs in the US if there are six months of futures activity for a token, such as on Bitnomial.
The filing process involves two options: a delay amendment, which requires the Securities and Exchange Commission to make the fund effective, or a no delay amendment, which automatically goes effective in 20 days.
“A no-delay amendment is basically when you become a little bit more comfortable. If you’re comfortable with your filing, which we are, and you file a no-delay amendment, then that means that you automatically go effective in 20 days,” McClurg said.
Canary filed its Litecoin and Hedera ETFs with no-delay amendments several weeks ago, and both went live last week. The firm filed the XRP ETF with a no-delay amendment 20 days before November 13.
