XRP ETF Coming This November 13 As Canary Capital Submits Updated S-1 By Removing Roadblocks

Asset manager Canary Capital has submitted an updated S-1 filing to bring its spot XRP ETF to the market by November 13. The updated filing makes an important change by removing the “delaying amendment,” which stops the registration from going auto-effective. The development is likely to stir some strong activity surrounding the Ripple altcoin.

XRP ETF From Canary Capital Coming to Wall Street

With Canary Capital successfully launching its Solana ETF and HBAR ETFs earlier this week, due to the 8-A filings and CERT filings, which allow the ETFs to go effective within 20 days of application automatically. Canary is now making a similar language change for its spot XRP ETF filings.

The removal of the “delaying amendment” by Canary allows the filing to go auto-effective, setting up the potential for a November 13 launch date. Crypto market experts Eleanor Terret stated that this is subject to the pending Nasdaq’s approval of the firm’s accompanying 8-A filing.

However, the timing could still be influenced by the U.S. government’s reopening. If the SEC completes its review and raises no objections, the ETF could launch sooner. On the other hand, any additional staff comments could delay the process.

Notably, SEC Commissioner Paul S. Atkins recently signaled openness to companies using the auto-effective route during the shutdown, says Eleanor Terret. Commenting on this updated S-1 filing, Bloomberg’s senior ETF strategist Eric Balchunas said:

“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”.

The Rex-Osprey XRP ETF, launched six weeks ago, has already made a strong debut, recently crossing $100 million. It is regarded as the first-ever “spot” ETF, though it operates under the uncommon ’40 Act structure, classifying it as an investment company rather than a standard commodity trust. Aligning with its inflows, analysts predict an XRP price rally to $10.

Ripple ETFs Can Attract Billion-Dollar Inflows, Says Bitwise

Bitwise Chief Investment Officer Matt Hougan strongly believes that XRP ETF  could “easily become” a billion-dollar fund within its first few months of launch, exceeding market expectations. In an interview with DL News, Hougan said that despite skepticism within the crypto community, XRP’s dedicated investor base could drive significant inflows. He said:

“People underestimate it because the median opinion in crypto is pretty bearish on XRP. But what drives flows? A group of people that buys the asset — and the XRP Army is incredibly bullish and loves XRP.”

Currently, around 20 XRP ETF applications are pending with the U.S. SEC, slightly behind Bitcoin and Solana, each with 23 filings. Ethereum follows with 16 pending applications, according to Eric Balchunas.