- XRP price surged 6% to $2.50 as anticipation for a spot XRP ETF intensifies on two fronts.
- Canary Capital’s $XRPC fund nears its Nasdaq launch today, filing under the 1933 Act, with Nasdaq formally supporting the bid.
- The DTCC website has listed 11 XRP ETF tickers from major issuers, including 21Shares, ProShares, Bitwise, and Franklin Templeton.
XRP price surged 6% on Thursday as market optimism for a spot XRP ETF intensified. As per reports, DTCC website has listed as many as 11 XRP ETF products in its Active and Pre-Launch categories as issuers ready their operational setups.
The Lead Catalyst: Canary’s $XRPC Fund and Nasdaq Support
Canary Capital, a frontrunner in the ETF race, has launched an official website for its XRP ETF, the $XRPC. The firm’s official publication states the fund’s objective is to provide direct exposure to the value of XRP held by the Trust.
Related: XRP ETF Launch From Canary to Trigger Billions In Demand As Exchange Supply Stays Thin
Canary Capital categorically stated that XRPC is not a commodity pool or an investment company registered under the Investment Company Act of 1940 (the “1940 Act”), and therefore is not subject to the same regulatory requirements as mutual funds or traditional ETFs registered under the 1940 Act.
Canary Capital’s statement implies it registered its XRP ETF product under the 1933 Act, making it the fourth crypto single ETF after BTC, ETH, and SOL.
Nasdaq’s Support for Canary Amid XRP’s Response
Meanwhile, in a letter addressed to the SEC’s Senior Vice President and Global Head of Regulatory Operations, Nasdaq stated that it has approved the Canary XRP ETF for listing upon official notice of issuance, and joined the investment firm’s request for approval by the SEC.
The ‘Floodgate’ Signal: 11 Tickers From ProShares, Bitwise Appear on DTCC
Amplifying this optimism, the Depository Trust and Clearing Corporation (DTCC) has listed 11 other XRP ETF products on its platform.
These DTCC listings, which are often speculative placeholders, include tickers from major institutional players like 21Shares, ProShares, Bitwise, and Franklin Templeton. This event is unfolding as the U.S. government reopens, leading traders to suspect the SEC may be preparing for a wave of XRP ETF approvals.
Market Reacts: XRP Rallies 6% on Dual-Catalyst Hopes
This combination of a concrete filing from Canary and a “floodgate” signal from the DTCC triggered a sharp market rebound. XRP’s price surged 6% in the early hours of Thursday after the news broke.
The cryptocurrency rallied from a $2.38 opening price to a $2.51 daily high. It has since retraced slightly, trading at $2.50 at the time of writing.
Related: XRP Price Stays Rangebound as Canary XRP ETF Launch Enters 48-Hour Countdown
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