- Canary Capital has removed the “delaying amendment” from its XRP ETF filing, signaling a potential launch on November 13.
- SEC and Nasdaq reviews could still affect the ETF’s final timeline.
- XRP-linked ETFs are already seeing strong inflows.
Canary Capital has updated its S-1 filing for a proposed spot Ripple (XRP) exchange-traded fund, removing a procedural clause that could clear the way for a November 13 launch.
The change is technical but significant: by eliminating the “delaying amendment,” the fund can become automatically effective under the statutory 20-day waiting period unless the SEC intervenes.
Update positions XRP ETF to go live after 20 days
Canary’s recent submission to the Securities and Exchange Commission (SEC) removes language that typically allows the agency to control the effective date of a registration.
In practice, the fund is now positioned to become effective automatically after twenty days under Section 8(a) of the Securities Act of 1933 — the same pathway several recent altcoin ETFs have followed.
Journalist Eleanor Terrett flagged the change in a social media post, noting that the update sets a possible launch date of November 13.
🚨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 fund still needs Nasdaq to approve a Form 8-A listing.
If Nasdaq clears the Form 8-A and SEC staff raise no further comments, the statutory clock would make November 13 a realistic target.
SEC could still request more changes
Despite the procedural move, the timeline is not guaranteed.
The SEC could still issue comments requiring Canary to revise its filing again, which would push back the effective date.
Broader agency operations add another variable: staff availability and review priorities can either accelerate or delay completion.
SEC Commissioner Paul S. Atkins recently expressed support for issuers using the automatic-effective route during periods of slower agency activity. He praised the legal mechanism behind the 20-day waiting period and described it as a longstanding option for issuers.
Although Atkins did not comment directly on Canary’s filing, his remarks suggest a regulatory environment that — at least in principle — can accommodate automatic effectiveness when filings are in order.
The XRP ETF market is already active
Even before full approval of this XRP spot ETF, the market for XRP-linked ETF products has been lively.
Several funds are already trading, including leveraged and volatility products from providers such as Teucrium, Volatility Shares, Rex-Osprey, ProShares and Purpose.
Those offerings have attracted meaningful inflows, highlighting investor demand for XRP exposure via ETF wrappers.
Notably, Teucrium’s leveraged XRP product has gathered substantial assets, while Rex-Osprey’s recently launched fund surpassed the low hundreds of millions in assets under management.
A broader slate of issuers, including some of the industry’s larger names, have pending applications as well, indicating further competition if Canary reaches the market first.