XRP News Today: Authorities Greenlight Inaugural XRP ETF, Indicating Broader Adoption of Cryptocurrency

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XRP News Today: Authorities Greenlight Inaugural XRP ETF, Indicating Broader Adoption of Cryptocurrency

Bitget-RWA2025/11/11 16:20

By:Bitget-RWA

- Canary XRP ETF secures SEC approval, becoming first U.S. spot XRP ETF to trade on Nasdaq this week. - XRP price jumps 10% to $2.48 post-approval, with 40% 24-hour volume surge driven by institutional interest. - ETF's 1934 Act framework aligns crypto with traditional securities, following Ripple's 2023 legal victory. - Analysts predict $6 price target if sustained demand emerges, with 21Shares' XRP ETF nearing potential approval.

The inaugural U.S. spot

XRP

exchange-traded fund (ETF) has successfully passed a significant regulatory milestone, as the

Canary XRP ETF

gained automatic clearance from the Securities and Exchange Commission (SEC) and is scheduled to start trading on Nasdaq within the week. Trading under the ticker XRPC, this ETF represents a landmark for Ripple’s XRP and the wider crypto sector, providing investors with their first opportunity for regulated access to the digital currency.

The SEC’s green light came after Canary Capital Group filed Form 8-A on November 10, 2025, completing registration under the Securities Exchange Act of 1934, as reported by

Coinotag

. The document, signed by Canary CEO Steven McClurg, outlined the ETF as a “common share of beneficial interest” backed by physical XRP, with Gemini Trust and BitGo serving as custodians. The fund’s management fee is set at 0.50%, which is slightly higher than Bitwise’s 0.34% but remains competitive among altcoin ETFs, according to

Coinotag

The market responded quickly and positively. Following the news, XRP’s value jumped nearly 10% to $2.48, and trading volume soared by 40% in just 24 hours, according to

Coinotag

. Experts attribute this surge to increased institutional interest and the ETF’s potential to draw in new investments. “The XRP ETF could replicate the rapid growth seen during Solana’s initial week,” McClurg commented, highlighting XRP’s established role in cross-border transactions, as noted by

Coinotag

Clearer regulations have been crucial to the ETF’s advancement. Unlike earlier XRP funds that were registered under the Investment Company Act of 1940, the Canary ETF utilizes the 1933 Act structure, similar to frameworks used for

Bitcoin

and

Ethereum

ETFs, bringing it in line with mainstream financial products, according to

CryptoBasic

. This change signals a broader recognition of cryptocurrencies as securities, further supported by Ripple’s 2023 court win over the SEC, as referenced in a

TradingView report

This approval could pave the way for a new wave of altcoin ETFs. Nate Geraci, founder of the ETF Institute, described the end of the U.S. government shutdown as opening the “floodgates” for crypto ETFs, with firms like 21Shares and Franklin Templeton moving to launch XRP and multi-asset funds, according to

CryptoBasic

. Recently, 21Shares submitted an amendment for its XRP ETF, initiating a 20-day SEC review that could result in automatic approval by November 27, as detailed in a

TradingView report

Technical analysts have pointed out XRP’s strong

momentum

, with some forecasts suggesting a rise to $6 if ETF-driven demand persists, as per

CoinEdition

. Immediate resistance is noted between $2.60 and $2.95, while breaking above $3.50 could see targets of $4.40 or higher, according to

CoinEdition

With trading anticipated to launch later this week, the Canary XRP ETF stands as a significant step in XRP’s path to broader acceptance. As institutional systems and regulatory clarity continue to develop, the token’s liquidity and price steadiness are likely to improve, paving the way for further progress in the digital asset industry, as highlighted by

Coinpedia

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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