Nasdaq Approves First Spot XRP ETF as U.S. Government Shutdown Ends

Nasdaq has approved the Canary Capital XRP ETF, the first fully spot-based XRP fund in the United States. This approval comes as the U.S. government shutdown has ended, bringing stability back to the financial markets.

Nasdaq Clears Way for First Spot XRP ETF

The ETF’s launch comes after Canary Capital completed its final SEC filing earlier this week, the last step before Nasdaq approval. 

Nasdaq confirmed that the Canary Capital XRP fund meets all regulatory requirements, allowing it to start trading. The ETF will use the ticker XRPC and follow the XRP-USD CCIXber Reference Rate Index. 

This setup lets investors gain exposure to XRP without buying the digital currency directly. Updated filings show that trading will begin right after certification.

With Nasdaq’s approval, Canary Capital became the first company in the U.S. to offer a spot-based XRP fund under the Securities Act of 1933. This gives it an edge over other funds that use derivatives or futures.

Canary Capital’s team expressed excitement about the launch and highlighted the importance of working closely with regulators to make it possible. The U.S. ETF approval shows growing clarity in crypto rules in the country and could pave the way for more crypto ETFs in the future.

Canary Capital XRP ETF Set to Opens Door for More 

Other companies like Franklin Templeton, Bitwise, CoinShares, and 21Shares have also updated their XRP fund applications, showing that more ETFs may enter the market soon. Data from the Depository Trust & Clearing Corporation suggests these listings could happen shortly, giving investors more options. 

Experts expect significant investment into Canary Capital’s XRP ETF once trading starts, similar to early Bitcoin and Ethereum spot ETFs. The new fund is the fourth single-crypto ETF available, joining Bitcoin, Ethereum, and Solana products. 

Analysts say it could make XRP more accessible to both large institutions and individual investors. While the U.S. is just launching its first XRP ETF, Brazil was the first country to greenlight such funds, followed by Canada in June. 

Here’s Impact of U.S. Government Shutdown Ends

The U.S. government shutdown has finally ended, with President Donald Trump signing the law to reopen the government. This has restored confidence in the financial system.

Analysts say that more available funds in the economy could help digital assets like XRP. SEC leaders note that clearer rules for crypto products are needed, which could make investing in digital assets safer and more attractive.

The timing is seen as good for Canary Capital’s ETF launch, which could attract strong interest from investors.