Canary Funds CEO Hails XRP ETF Approval: “A Win for Free Markets”

The first spot XRP ETF in the United States is now officially approved, and Canary Funds is preparing to launch it at market open tomorrow. Nasdaq certified the listing of the $XRPC ETF late Monday, finalizing the last regulatory step needed before trading begins. The confirmation arrived through a formal notice from Nasdaq Regulation, which verified receipt and approval of the registration submitted on November 10.

Crypto journalist Eleanor Terrett reported the development at 5:30 PM ET, which marks a big moment for XRP after years of uncertainty around regulatory treatment. The approval clears the way for the first single-token XRP spot ETF to trade on a major U.S. stock exchange, something many analysts considered unlikely a year ago.

CEO Welcomes the XRP ETF’s Launch

Canary Funds CEO Steven McClurg issued a direct statement celebrating the milestone, framing the approval as a broader victory for open markets. He said the team is “very excited to go effective with the first single-token spot XRP ETF,” emphasizing that the launch would not have been possible without support from SEC officials who have advocated for a more market-friendly regulatory approach. McClurg specifically highlighted the role of Chairman Atkins, Commissioner Peirce, and others within the agency.

NEW: @CanaryFunds CEO @stevenmcclurg gave me this statement on the $XRPC spot ETF: "We are very excited to go effective with the first single-token spot XRP ETF. This would not have been possible without the leadership of Chairman Atkins, Commissioner Pierce, and all the…

— Eleanor Terrett (@EleanorTerrett) November 12, 2025

The filing confirms that Nasdaq has approved the security for listing and registration, and Canary Funds is now finalizing preparations for tomorrow’s debut. The launch adds XRP to the expanding list of single-asset spot ETFs available to U.S. investors, placing it alongside products tracking Bitcoin, Ethereum, and Solana.

While market impact remains uncertain ahead of the opening bell, the approval signals another step forward in the integration of digital assets with traditional financial infrastructure. Traders now look toward the first day of trading to gauge inflows, liquidity, and how quickly institutional interest builds around the new product.

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