Canary Hosts First Physical XRP ETF on Nasdaq
- Canary files first XRP ETF for Nasdaq trading.
- Leadership highlights expected high demand for XRP.
- Potential ripple effect on governance and altcoin markets.
Canary Capital Group LLC’s newly filed Form 8-A for a physical XRP ETF has secured Nasdaq trading approval, poised to debut under the oversight of CEO Steven McClurg on November 10, 2025.
The event heralds increased institutional access to XRP, sparking optimism for its market growth, similar to prior altcoin ETFs that saw significant liquidity influxes.
The Canary XRP ETF launches as the first physical XRP ETF for Nasdaq trading after their Form 8-A submission to the U.S. SEC. This move significantly increases institutional access to XRP and marks a pivotal event in crypto ETFs.
The Launch and Market Impact
The issuer, Canary Capital Group LLC, with Steven McClurg as the key figure, anticipates that the launch of the XRP ETF will significantly outperform previous altcoin ETFs like Solana.
Steven McClurg, CEO, Canary Capital Group, “XRP ETF will probably double what Solana did in its first week.”
Following the announcement, there was a noticeable increase in XRP’s liquidity and value as investors anticipated its broader accessibility.
The ETF’s structure, similar to Bitcoin BTC -2.54% and Ethereum ETH -4.10% , targets institutional investors. The higher management fee compared to Bitwise indicates Canary’s strategy for pricing their pioneering product competitively in a burgeoning market.
Future Implications for the Market
The approval paves the way for future altcoin ETFs with potential market innovations. Industry experts expect the approval to encourage other filings and result in collateral growth in governance and DeFi domains.
Historical precedents provide context for future performance expectations. Past crypto ETF launches saw considerable asset inflow and increased transactional volumes, hinting at potential spikes in both XRP action and broader market engagement.
Nate Geraci, President, ETF Store, “XRP ETF launch marks a big win for Ripple against previous anti-crypto regulators.”
