Nasdaq Certifies Canary Capital's $XRPC: The First Spot XRP ETF is Set to Launch

The XRP community has seen a major breakthrough as Nasdaq officially certified the listing of Canary Capital’s spot XRP ETF under the ticker $XRPC. Following a certification letter from Nasdaq Regulation on November 12, 2025, the ETF is cleared to launch tomorrow at market open.

Significance of the Launch

This makes Canary Capital the first firm to successfully bring a spot XRP exchange-traded fund to the U.S. market, signifying a major step toward XRP's mainstream adoption.

Investor Expectations

While excitement is high, investors are advised to temper price expectations for the immediate term:

• Seed Capital Only: According to Gemini, the ETF issuer is only required to purchase a small, specific amount of XRP, known as "seed capital," to fund the ETF before launch. This initial small-scale purchase is not expected to immediately cause a large price surge.
• Single Launch: Despite over 20 filings, $XRPC is the only XRP ETF scheduled to debut tomorrow. Market analysts will be closely watching its performance to gauge how future ETF launches might impact the XRP price.

Executive Commentary

Steven McClurg, CEO of Canary Funds, expressed enthusiasm for the historic launch, thanking the leadership at the SEC, including Chairman Atkins and Commissioner Pierce, for their pro-free market stance that made the single-token spot XRP ETF possible.

November 2025, Cryptoniteuae