- Canary Capital removed the “delaying amendment” from its XRP spot ETF filing, opening the possibility of a November 13 launch.
- SEC and Nasdaq reviews could still affect the ETF’s final timing.
- XRP-linked ETFs are already seeing strong inflows.
Canary Capital updated its S-1 filing for a proposed Ripple (XRP) spot exchange-traded fund, removing a procedural clause that could clear the way for a November 13 launch.
The change is technical but meaningful: by eliminating the “delaying amendment,” the fund could become automatically effective after the statutory 20-day waiting period, unless the SEC intervenes.
Update positions the XRP ETF to become effective after 20 days
The latest filing with the Securities and Exchange Commission (SEC) removes language that typically allows the agency to control the effective date of a registration. Practically speaking, the fund is now positioned to become effective automatically after twenty days under Section 8(a) of the Securities Act of 1933, a path used by several recent altcoin ETFs.
Journalist Eleanor Terrett highlighted the amendment on social media, noting that the change now sets a potential 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 approval to list via an Form 8-A filing. If Nasdaq clears the 8-A and SEC staff do not issue additional comments, the statutory clock would make November 13 a realistic target.
The SEC could still require further changes
Despite the procedural update, the timeline is not guaranteed. The SEC could issue comments requiring Canary to amend its filing again, which would delay the effective date.
Wider changes in government operations add another variable: staff availability and review priorities may speed up or slow down finalization.
SEC Commissioner Paul S. Atkins recently expressed support for issuers using the auto-effectiveness route when agency operations slow, praising the legal mechanism behind the 20-day waiting period as a long-standing option for issuers.
Although Atkins did not comment specifically on Canary’s filing, his remarks suggest a regulatory environment that, in principle, can accommodate automatic effectiveness when filings are in order.
The XRP ETF market is already active
Even before a full approval for this proposed XRP ETF, the market for XRP-related ETF products is busy. Several funds are already trading, including leveraged and volatility-linked products from providers such as Teucrium, Volatility Shares, REX-Osprey, ProShares and Purpose.
These offerings have drawn significant inflows, highlighting investor demand for XRP exposure through ETF wrappers. Teucrium’s leveraged XRP product, in particular, has gathered considerable assets, while the recently launched REX-Osprey product exceeded a few hundred million in assets under management on its first day.
A broader slate of issuers — including several major names in the industry — still have pending applications, signaling more competition if Canary reaches the market first.