Canary Funds has filed an updated S-1 registration for its XRP spot exchange-traded fund (ETF). This removes the delayed amendment that gives the U.S. Securities and Exchange Commission control over when a filing becomes effective.
Canary XRP ETF Nears Automatic Approval
The change allows the ETF to become automatically effective under Section 8(a) of the Securities Act of 1933. According to FOX business journalist Eleanor Terrett, this sets up a potential launch date of November 13. However, it depends on the listing approval of the application by Nasdaq.
🚨SCOOP: @CanaryFunds has filed an updated S-1 for its $XRP spot ETF, removing the “delaying amendment” that stops a registration from going auto-effective and gives the @SECGov control over timing.
This sets Canary’s $XRP ETF up for a launch date of November 13, assuming the… pic.twitter.com/MKvEN23t5P
— Eleanor Terrett (@EleanorTerrett) October 30, 2025
The updated filing means Canary’s XRP ETF could go live without waiting for explicit SEC clearance. XRP-related institutional listings have gained traction recently. Evernorth debuted on Nasdaq under the XRPN ticker after a $1 billion XRP treasury purchase.
The move comes as issuers explore the auto-effective route during the government’s partial shutdown, which has slowed regulatory processing. By removing the delay clause, Canary signals readiness to proceed once the statutory 20-day period lapses. The only cause of delay would be if the SEC intervenes with new comments or objections.
Analysts Label Canary XRP ETF Filing a Bold Move
According to the updated prospectus, the Canary XRP ETF will provide exposure to XRP held by the trust, less operational expenses and liabilities. The fund will trade on the Nasdaq and track the CoinDesk XRP CCIXber Reference Rate.
This is calculated as an aggregate of XRP trading across major platforms. Gemini Trust Company and BitGo Trust Company will act as custodians for the underlying XRP. The updated filing builds on earlier momentum. XRP, Solana, and HBAR ETFs by Canary got listed on DTCC, reflecting backend readiness for institutional trading
Market analysts noted the filing’s timing as significant. Terrett said the amendment effectively fast-tracks the ETF. Bloomberg’s Eric Balchunas described it as a bold but untested strategy since Canary did not engage in extended comment rounds with the SEC, unlike other issuers such as Solana.
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.
— Eric Balchunas (@EricBalchunas) October 30, 2025
If the SEC raises no objections, the launch of the ETF would mark a major milestone for XRP’s institutional accessibility. Recently, T. Rowe Price filed a crypto ETF that include Bitcoin, Ethereum, Solana, and XRP.
This proves that the broader ETF landscape is also expanding. The product would join a wave of token-based ETFs that have leveraged the same statutory mechanism this week. These include Solana, Hedera, and Litecoin.
