First-Ever US Spot XRP ETF Will Start Trading Today

Today, the US financial market welcomes its first spot XRP ETF. Canary Capital’s XRP ETF, trading under the ticker XRPC, was granted regulatory approval on November 12, 2025, and officially listed on Nasdaq on November 13. This launch marks a significant step in integrating XRP into the mainstream financial ecosystem.

Regulatory Process and Market Approval

Canary Capital achieved a relatively fast approval by filing Form 8-A under Section 8(a) of the Securities Act of 1933. By eliminating a delaying amendment, the firm set in motion a 20-day automatic approval period unless the SEC raised an objection. This approach has become a common path for crypto-focused ETFs aiming for quicker market entry.

🚨NEW: As of 5:30 PM ET, @CanaryFunds’ $XRP ETF is officially effective after @Nasdaq certified the listing, clearing $XRPC for launch tomorrow at market open. pic.twitter.com/h3hxVMDhWP

— Eleanor Terrett (@EleanorTerrett) November 12, 2025

On November 12, Nasdaq Regulation submitted certification to the SEC, with Eun Ah Choi signing the final approval. Lower SEC activity during the government shutdown may have helped speed up the process.

The ETF’s approval is more than a technical step. It shows XRP is gaining acceptance in traditional finance and could encourage other altcoins with institutional demand to follow a similar path.

Market Context and Altcoin ETF Momentum

The XRP spot ETF enters a market already active with altcoin ETFs. Spot ETFs for Solana, Litecoin, and Hedera launched earlier this year, showing strong institutional interest. Bitwise’s Solana ETF, for example, had $56 million in first-day trading, rising to $72 million by the second day.

XRP futures ETFs, like REX-Osprey’s September launch, also drew attention, with $24 million traded in the first 90 minutes and over $100 million in assets by October. Past launches, such as XRPR, often saw pre-launch rallies followed by profit-taking.

Currently, eleven XRP ETF products are listed on the Depository Trust & Clearing Corporation website. Major firms, including Bitwise, Franklin Templeton, 21Shares, and CoinShares, have filings showing growing institutional confidence after the SEC’s guidance on crypto ETPs in July 2025.

Technical Signals and Price Outlook

XRP is currently trading at $2.50, rising 3.37% in a single day. Technical indicators suggest a falling wedge pattern, with a key breakout level near $2.88. A move above this level could signal renewed momentum, while support at $2.31 remains important to prevent a drop toward $2.06.

On-chain data is mixed ahead of today’s launch. Glassnode shows over 216 million XRP, worth about $556 million, left exchanges in the week before approval, usually a sign of long-term holding. However, whale addresses sold 10 million XRP in the two days before, and long-term holders sold 135.8 million XRP, a 32% increase in outflows since early November.

Active XRP addresses are at a three-month high, showing more retail activity. Derivatives data shows lower open interest, suggesting less leverage and possibly calmer short-term trading.

What Does It Mean for XRP?

The launch of the US spot XRP ETF is an important step for both institutional and retail investors. It gives a clear and regulated way to invest in XRP, connecting digital assets with traditional finance. Still, while the short-term impact is expected to be positive, past ETF launches show that early gains are often followed by profit-taking.