First-Ever US XRP ETF Reportedly Set for Thursday Launch

Canary Capital's XRP ETF was filed under the Securities Act of 1933, allowing it to hold XRP tokens directly.

The first U.S.-based exchange-traded fund to directly hold XRP (

) could launch on Thursday after Canary Capital filed key documents with securities regulators.

Bloomberg senior ETF analyst Eric Balchunas

Tuesday that Canary filed a Form 8-A with the Securities and Exchange Commission on Monday night. This filing must be lodged before securities are offered on exchanges, and typically precedes product launches by one to two days.

Balchunas said the filing points to a launch on Wednesday or Thursday, noting that recent Hedera ETFs launched the next day after Form 8-A submissions. All regulatory boxes are being checked, though the launch is not yet a done deal, pending final certification from Nasdaq.

Crypto reporter Eleanor Trent said the Form 8-A represents the final step before the fund goes effective at 10:30 p.m. UTC Wednesday, once Nasdaq certifies the listing. When that clearance occurs, the last hurdle is removed and the first XRP spot

will be set to launch Thursday at market open.

Canary's ETF was filed under the Securities Act of 1933, allowing it to hold XRP tokens directly. Other XRP exchange-traded products have launched in the U.S., but those invest in offshore companies that hold the crypto rather than maintaining direct token custody.