The cryptocurrency market has experienced a long-awaited development. According to a new filing with the U.S. Securities and Exchange Commission (SEC), the Canary XRP ETF, managed by Canary Capital Group LLC, has surpassed a critical threshold in its official listing process.
According to cryptocurrency reporter Eleanor Terrett, the company has filed its Form 8-A with the SEC, which is required for the ETF to be listed. This filing is known as one of the final steps for a security to be traded on US exchanges.
Terrett said in a statement:
CanaryFunds has filed Form 8-A. The product officially becomes active once Nasdaq approves the listing on Thursday at 1:30 AM UTC+3, 5:30 PM ET. Once this happens, the final hurdle will be cleared, and the first XRP spot ETF will begin trading at market open on Thursday.
The documents indicate that the Canary XRP ETF has been registered for listing on Nasdaq Stock Market LLC. The registration is made under the class “Beneficial Interest Common Shares of the Canary XRP ETF.”
This development marks a historic milestone for XRP. Spot ETF approval will allow institutional investors to access XRP through a regulated product, opening a new avenue of liquidity for the asset.
*This is not investment advice.
