- Canary Capital has removed the “delaying amendment” from its XRP ETF filing, signaling a possible 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 amended its S-1 filing for a proposed spot Ripple (XRP) exchange-traded fund, eliminating a procedural clause that could clear the way for the fund to launch on November 13.
Although largely technical, the change is meaningful: removing the “delaying amendment” would allow the fund to become automatically effective after the statutory 20-day waiting period unless the SEC intervenes.
The update positions the XRP ETF to go live after 20 days
Canary’s recent submission to the U.S. Securities and Exchange Commission removes language that typically gives the agency control over the effective date of a registration. In practice, the fund is now positioned to become effective automatically under Section 8(a) of the Securities Act of 1933 after twenty days—a route several altcoin ETFs have taken recently.
Journalist Eleanor Terrett noted the change on social media, pointing out that it implies a potential November 13 launch date.
🚨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 Form 8-A.
If Nasdaq clears the 8-A filing and SEC staff do not issue further comments, the statutory clock would make November 13 a realistic target.
The SEC could still request further changes
Despite this procedural step, the timeline is not guaranteed. The SEC can still submit comments requiring Canary to amend its filing again, which would push the effective date back.
Broader shifts in the agency’s operations add another variable: staff availability and review priorities could either speed up or delay the process.
SEC Commissioner Paul S. Atkins recently advocated using the auto-effective pathway when agency operations slow, praising the legal mechanism of the 20-day waiting period and noting it has long been an option for issuers.
While Atkins did not comment on Canary’s filing directly, his remarks suggest a regulatory environment that—at least in principle—permits automatic effectiveness when filings are in order.
The XRP ETF market is already active
Even before full approval of this spot XRP ETF, the market for XRP-linked ETF products has been busy. Several funds are already trading, including leveraged and volatility-focused offerings from providers such as Teucrium, Volatility Shares, Rex-Osprey, ProShares and Purpose.
These products have attracted meaningful inflows, underscoring investor appetite for XRP exposure through ETF wrappers. Notably, Teucrium’s leveraged XRP product has accumulated significant assets, while the recently launched Rex-Osprey fund has moved into the low hundreds of millions in assets under management.
A wider set of issuers—including some of the industry’s larger names—has pending applications, indicating further competition if Canary’s product reaches the market first.