Important points
What are the management fees for Canary XRP ETF?
Canary’s XRP ETF has a management fee of 0.50%, higher than Bitwise’s 0.34%.
Who are the key partners supporting the ETF?
US Bancorp Fund Services (Administrator), Parallel Distributors LLC (Marketing), Gemini Trust and BitGo Trust (Custodian), US Bank (Cash Custodian).
In Ripple’s big breakthrough [XRP] Canary Capital’s Spot XRP ETF secured automatic approval for listing on Nasdaq after the issuer filed a Form 8-A with the U.S. Securities and Exchange Commission (SEC) on November 10, according to the community.
Canary’s Spot XRP Exchange Traded Fund Approved
According to the latest filing, Nasdaq has approved the company’s listing under the ticker symbol “XRPC.”
The approval marks the final regulatory step before launch, with the ETF automatically becoming valid and paving the way for trading later this week, pending a final CERT filing to confirm a formal debut date.
The filing also notes that a detailed description of the ETF’s shares is included in the trust’s Form S-1 registration statement filed with the SEC on Oct. 24.
This milestone follows Canary Capital’s recent success with Litecoin [LTC] and hedera [HBAR] Both ETFs were launched after receiving automatic approval through similar 8-A and CERT filings.
Inside the XRP ETF structure
That said, Canary’s new ETF uses the XRP-USD CCIXber reference rate index to track the spot price of XRP, providing direct exposure to the cryptocurrency’s market performance.
The management fee is 0.50%, which is slightly higher than Bitwise’s XRP ETF, which recently announced a 0.34% fee.
Key partners supporting the ETF include US Bancorp Fund Services, which acts as transfer agent and administrator, while Parallel Distributors LLC takes on marketing responsibility.
Meanwhile, US Bank, an affiliate of the money transfer company, acts as the cash custodian.
XRP market activities etc.
The excitement surrounding the ETF coincided with a surge in market activity for XRP. According to CoinMarketCap, the token rose 8.83% over the past week before falling slightly to $2.46, down 2.87% over the past 24 hours.
Beyond Canary Capital’s funds, the broader XRP ETF ecosystem is also gaining momentum. The data shows that several XRP-related funds have seen steady inflows, including Teucrium 2x Long Daily XRP ETF, Volatility Shares XRP ETF, Rex-Osprey, ProShares Ultra XRP ETF, and Purpose.
That said, the growing momentum surrounding spot XRP ETFs signals a turning point for Ripple and the broader crypto industry.
Finally, with nine companies listed on the DTCC, led by major issuers such as Franklin Templeton, Bitwise, and Canary Capital, and approval likely by November, XRP could soon join the ranks of Solana. [SOL]Litecoin, and Hedera are attracting ETF attention.