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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.