Nasdaq Approves First-Ever XRP Exchange-Traded Fund

In a significant milestone for the cryptocurrency market, Canary Capital's XRP exchange-traded fund (ETF) received regulatory approval on November 12, 2025. Nasdaq certified the listing, paving the way for the product, listed under the ticker XRPC, to begin trading on November 13.

This event marks the launch of the first spot XRP ETF on a US exchange, reflecting the growing institutional demand for regulated cryptocurrency investment products. The approval follows a wave of altcoin ETF launches in recent months, including funds for Solana, Litecoin, and Hedera, further signaling a shift in how traditional finance engages with digital assets.

Canary Capital utilized the auto-effective registration process under Section 8(a) of the Securities Act of 1933, triggering a 20-day window for automatic approval unless the SEC objected. This regulatory pathway has become the standard for crypto ETF issuers seeking swift market access. The final step was Nasdaq Regulation's formal certification to the SEC on November 12, clearing the way for trading to commence.

The XRP ETF launch represents a key milestone for the cryptocurrency, which has faced years of regulatory uncertainty around Ripple and its native token. The event underscores the growing acceptance of altcoins within the traditional financial system, potentially paving the way for increased institutional adoption and mainstream recognition of the digital asset class.