The crypto market could welcome a spot XRP (XRP) exchange-traded fund (ETF) on November 13 as asset manager Canary Capital has removed the delaying amendment from its S-1 registration.
This step follows a week of successful altcoin ETF launches, including products for Solana, Litecoin, and Hedera, suggesting a wider regulatory acceptance of digital asset investment vehicles.
Canary XRP ETF Targets November Launch
In a recent post on X (formerly Twitter), journalist Eleanor Terrett reported that Canary Capital updated its S-1 filing for the spot XRP ETF by removing the “delaying amendment.”
SponsoredEssentially, this amendment allows the SEC to control the timing of effectiveness by preventing a registration statement from becoming automatically effective. Without it, the filing will automatically take effect after a 20-day waiting period under Section 8(a) of the Securities Act of 1933, unless the SEC issues further comments or takes other action.
Thus, by removing the delaying amendment, Canary Funds could see its ETF launch on November 13. However, it is contingent on Nasdaq’s 8-A approval.
“Interesting.. Altho XRP docs didn’t have the same comments back-and-forth with the SEC that Solana had. That was one reason issuers was felt they were ready. But hey, worth a try I guess,” Bloomberg’s Eric Balchunas said.
Terrett added that the resolution of the government shutdown could impact the timeline. It could potentially delay the process if the SEC staff decides to issue new comments on the filing, or, conversely, expedite approval if the review is already complete and no further revisions are required.
“The SEC Chair himself seems to be on board with companies taking advantage of the auto-effective method. While not commenting directly on the ETF launches, @SECPaulSAtkins said yesterday he was pleased to see companies like MapLight using the 20-day statutory waiting period to go public during the shutdown, praising the same legal mechanism Bitwise and Canary used to launch their SOL, HBAR and LTC ETFs this week,” she noted.
ETF Race Heats Up: SOL Leads, XRP May Be Next
Canary’s latest filing comes following a surge in altcoin ETF launches this week. Bitwise and Canary launched their Solana, Litecoin, and Hedera ETFs using the same auto-effective process.
As BeInCrypto reported, Bitwise’s Solana ETF (BSOL) set a record with $56 million in first-day trading volume. On the second day, BSOL reached $72 million in volume, highlighting increased institutional demand for regulated altcoin products.
Litecoin and HBAR ETFs followed with comparatively modest activity. HBAR recorded $8 million in first-day trades, while Litecoin saw $1 million.
Notably, prospects for an XRP ETF appear positive given the performance of previous products. REX-Osprey’s XRPR, which launched in mid-September 2025, has attracted notable demand.
On launch day, XRPR logged $24 million in volume within the first 90 minutes, five times the volume of earlier XRP-based futures contracts. Moreover, by late October, XRPR topped $100 million in assets under management. Therefore, if an XRP ETF is launched, it’s likely to attract strong interest.
