Canary Positions XRP ETF For Mid-November Launch As SEC Delay Clause Removed

Canary Funds has filed an updated S-1 registration for its spot XRP ETF, removing the delaying amendment that gives the SEC control over launch timing. Under Section 8(a) of the Securities Act, the ETF can now become automatically effective after a 20-day period unless regulators issue further comments. Journalist Eleanor Terrett reported that the fund could debut as early as November 13, subject to Nasdaq’s listing approval.

The move follows similar filings for Solana and HBAR ETFs and comes amid growing institutional interest in XRP exposure. Recent XRP-related products, including Evernorth’s XRPN fund, have gained traction following large-scale XRP treasury acquisitions. The ETF will track the CoinDesk XRP index, with Gemini and BitGo serving as custodians.

With regulators operating under slowed workflows during a partial government shutdown, issuers are increasingly adopting the auto-effective route to avoid administrative delays. Canary’s filing underscores accelerating competition in the crypto ETF market as investors seek diversified digital-asset vehicles.

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