Here’s Why Thursday Is Poised to Be a Big Day for XRP Investors

The coming days could mark a defining moment for XRP holders as market attention turns to the potential debut of the first spot XRP exchange-traded fund (ETF).

Canary Capital, a digital asset management firm, is on the verge of launching its long-awaited product, which analysts believe could begin trading as early as Thursday.

Regulatory Progress Points to Imminent Launch

The prospect of a near-term launch gained credibility after Canary Capital filed its Form 8-A with the U.S. Securities and Exchange Commission (SEC). This filing allows the fund’s shares to be listed and traded on a registered securities exchange.

Bloomberg’s senior ETF analyst Eric Balchunas indicated that, based on the sequence of recent filings, the fund could go live this week, possibly even ahead of Thursday if final approvals are completed.

Adding to the momentum, Canary Capital recently withdrew a “delaying amendment” from its S-1 registration statement, effectively allowing the filing to take effect automatically without further administrative delay. This procedural step is a strong signal that the company is finalizing preparations to bring the product to market.

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Background on the Filing Process

Canary first submitted its application for a spot XRP ETF in October 2024, placing it among the earliest issuers seeking to create a regulated investment vehicle backed by XRP. The filing was made through the Cboe BZX Exchange, which has since received formal acknowledgment from the SEC.

The process, however, has been marked by several delays from the commission. These developments come at a time when the digital asset industry is witnessing renewed optimism around exchange-traded funds linked to cryptocurrencies.

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While Bitcoin and Ethereum have already paved the way for other spot ETF products, the arrival of an XRP-focused equivalent would represent another milestone for the sector.

Expanding ETF Competition

Canary Capital is not alone in pursuing an XRP ETF. Major traditional finance players have shown increasing interest in similar offerings. Franklin Templeton, a global investment firm managing over $1.5 trillion in assets, is reportedly preparing its own product.

The DTCC recently listed Franklin Templeton’s spot XRP ETF, and the interest from these major institutions shows a broader institutional recognition of XRP’s role within digital finance.

While XRP currently trades around $2.40 with no definite sign of an upcoming rally, the launch of spot XRP ETFs could trigger a new wave of investment, sending the digital asset to new heights.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent BitcoinLinux’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. BitcoinLinux is not responsible for any financial losses.

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