Canary XRP ETF Commences Trading on Nasdaq
- Canary XRP ETF gains SEC approval, begins Nasdaq trading.
- First spot XRP ETF in the U.S.
- Potential impacts on XRP market and crypto sector.
The Canary XRP ETF, managed by Canary Capital and CEO Steven McClurg, is set to commence trading on Nasdaq under the ticker ‘XRPC’ this week following SEC approval.
This launch marks the first U.S. spot XRP ETF, significantly affecting XRP’s market dynamics and setting a precedent for future crypto asset ETFs.
Canary XRP Gets SEC Nod, Trades as ‘XRPC’
The ETF’s approval has sparked a 10% surge in XRP prices, alongside increased trading volumes. Stakeholders anticipate its impact to mirror historical ETF launches in other crypto assets, such as previous ripple effects witnessed with BTC and ETH ETFs.
Eric Balchunas, Senior ETF Analyst at Bloomberg, stated, “Canary filed 8A for XRP ETF last night, which points to launch tomorrow or Thursday (today is holiday)… Not done deal but all boxes being checked. Stay tuned.”
Spot ETF Launches Drive Crypto Market Changes
Past BTC and ETH ETF launches triggered significant market shifts, providing insights into potential XRP implications. The current launch aligns with this trend, amplifying investor expectations. Based on historic ETF patterns, experts project this launch will augment XRP’s market prominence, driving liquidity and investment within the broader crypto space.
Eleanor Terrett highlighted on Twitter, “Once the Nasdaq certifies the listing, the last hurdle is cleared and the first spot XRP ETF will be set to launch Thursday at market open.”
This introduction paves the way for opportunities in U.S. crypto finance, stirring significant attention from investors and stakeholders.
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