XRP ETF Launch Expected November 13

The first exchange-traded fund (ETF) holding 100% XRP tokens is anticipated to debut in the United States on November 13, following recent filings and regulatory updates. The launch follows a period of delays and numerous applications to the Securities and Exchange Commission (SEC).

Canary Capital was among the first to remove a “delayment amendment” from its filing, signaling readiness for a launch. The company filed its Form 8-A with the Nasdaq, marking a final step before potential effectiveness at 5:30 PM ET Wednesday. If approved by Nasdaq, the spot XRP ETF is expected to launch Thursday at market open.

ETF analyst Eric Balchunas confirmed the potential launch date, noting that while not a “done deal,” all necessary approvals seem to be progressing. He highlighted the distinction between Canary’s XRP ETF and a previously launched product, REX-Osprey’s, with Canary’s being a pure-play XRP ETF under the 33 Act and the latter under the Investment Company (’40) Act.

Prior to the anticipated launch, data suggests XRP whales have been liquidating significant portions of their holdings, including 90 million coins disposed of in the last 72 hours. The selling activity has raised questions about a “buy the rumor, sell the news” scenario. Whale accumulation was previously linked to XRP’s price surge to $3.40 in January and a $3.65 all-time high in July.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.