Canary Capital Confirms XRP ETF Launch Date After Removing Delay Clause, Set to Debut on November 13, 2025

Crypto asset manager Canary Capital has officially taken a significant step toward launching its XRP Exchange-Traded Fund (ETF) after removing the delaying amendment clause from its filing documents. This move paves the way for the XRP ETF to officially debut on November 13, 2025, pending final approval from Nasdaq and the absence of any objections from the U.S. Securities and Exchange Commission (SEC).

In its latest Form S-1 filing, Canary Capital eliminated the clause that previously granted the SEC full authority to determine when the ETF registration would become effective. With that clause removed, the registration process will now automatically take effect after a 20-day waiting period, as stipulated under Section 8(a) of the Securities Act of 1933, unless the SEC intervenes directly. If the process proceeds smoothly without additional delays, Canary’s XRP ETF will be listed and begin trading on Nasdaq by mid-November 2025.

A Bold Move by Canary Capital

Several analysts have described Canary’s decision as a form of “amendment rebellion”, challenging the conventional practice among crypto ETF issuers, who typically wait for full SEC approval before launching their products. By opting for the automatic effectiveness mechanism, Canary has adopted a more aggressive and proactive approach toward its launch deadline. Former SEC Chairman Paul S. Atkins previously expressed support for such a strategy, noting that automatic effectiveness could serve as an efficient solution, particularly during periods of U.S. government shutdowns.

Impact and Implications for the Crypto Industry

If approved, the launch of a spot XRP ETF would mark a major milestone for the digital asset industry—offering institutional and retail investors a regulated financial vehicle to gain exposure to XRP. Canary’s move could also set a new precedent for other crypto ETF issuers seeking to accelerate their launch timelines without awaiting full regulatory approval. However, certain risks remain. Although the delay clause has been removed, the final approval from Nasdaq and potential further comments from the SEC could still influence the ultimate launch schedule.

Toward a New Era of Crypto ETFs

By targeting a November 13, 2025 launch date and removing regulatory bottlenecks through the elimination of the delay clause, Canary Capital positions itself at the forefront of global crypto ETF innovation. If all processes proceed as planned, the XRP ETF could represent a pivotal moment for the integration of digital assets into traditional capital markets. Nevertheless, the SEC’s oversight, Nasdaq’s final clearance, and broader macroeconomic conditions will remain crucial factors determining the ultimate success of this ambitious initiative.