First XRP ETF Launch Set for November 13 as Canary Bypasses Delays
Canary Capital removes delaying amendment from XRP ETF filing, targeting November 13 launch. Strategic move bypasses SEC shutdown delays while Bloomberg analysts project 95% approval odds and $5-10B first-month inflows. XRP's regulatory clarity advantage positions it ahead of altcoin competitors.
The race for the first approved XRP spot ETF just accelerated dramatically. Canary Capital has filed an updated S-1 registration for its proposed XRP ETF, removing the "delaying amendment" that previously gave the SEC control over timing. This strategic move positions Canary's XRP ETF for a potential November 13, 2025 launch date, contingent on Nasdaq approving the firm's accompanying 8-A filing.
The timing couldn't be more significant. SEC Chair Paul Atkins has expressed support for companies utilizing this auto-effective mechanism during the government shutdown, praising the same legal pathway leveraged by Bitwise and Canary for their recently launched Solana, Hedera, and Litecoin ETFs.
🚨SCOOP: @CanaryFunds has filed an updated S-1 for its $XRP spot ETF, removing the “delaying amendment” that stops a registration from going auto-effective and gives the @SECGov control over timing.
— Eleanor Terrett (@EleanorTerrett) October 30, 2025
This sets Canary’s $XRP ETF up for a launch date of November 13, assuming the… pic.twitter.com/MKvEN23t5P
Critical Timing Amid Government Shutdown
The filing update comes as the ongoing U.S. government shutdown has stalled approval processes for numerous XRP ETF applications originally scheduled for October decisions. Crypto experts indicate that even after the government reopens, the SEC will need approximately four weeks to process accumulated backlogs, potentially pushing most approvals to late November or December 2025.
However, Canary's strategic removal of the delaying amendment allows their ETF to potentially bypass this bottleneck. By utilizing the 20-day statutory waiting period, the fund could achieve effectiveness without requiring active SEC approval, similar to the mechanism that enabled recent altcoin ETF launches during the shutdown.
Institutional Momentum Building
The XRP ETF landscape has intensified significantly, with Bloomberg analysts assigning a 95% approval probability by Q4 2025. Currently, over a dozen major asset managers have filed applications, including Grayscale, Franklin Templeton, Bitwise, 21Shares, and WisdomTree.
The regulatory environment has evolved favorably for XRP ETFs. The SEC's September approval of new generic listing standards for spot crypto ETFs has streamlined the approval process, while XRP's completion of the required six-month futures trading period on Coinbase Derivatives and CME Group satisfies key regulatory prerequisites.
XRP Market Implications and Price Projections
The potential approval wave carries substantial market implications. Canary Capital CEO Steven McClurg now projects potential inflows of $5-10 billion in the first month, significantly higher than his initial estimates.
Market analysis suggests this could trigger dramatic price appreciation, with some projections targeting $12-30 per XRP based on historical inflow-to-valuation multipliers. Exchange inventories have already tightened dramatically, with Coinbase's XRP holdings falling nearly 90% in recent months, potentially creating supply constraints as ETF demand materializes.
XRP's Competitive Advantages
XRP maintains several advantages over competing altcoin ETF applications. The resolution of Ripple's SEC case provides unprecedented regulatory clarity, establishing XRP's non-security status definitively. Additionally, XRP's extensive institutional adoption through RippleNet's 100+ financial institution partnerships demonstrates real-world utility beyond speculative trading.
The convergence of ETF approvals with Ripple's pending national bank charter application could create a transformative moment for XRP's institutional adoption trajectory.
Conclusion
Canary's strategic filing update represents more than tactical maneuvering—it potentially positions them to launch the first mainstream XRP ETF while competitors navigate regulatory delays. With XRP currently trading around $2.80-2.90 and institutional demand building across multiple fronts, November 13 could mark a watershed moment for XRP's integration into traditional finance. The confluence of regulatory clarity, technical readiness, and institutional adoption creates conditions for potentially historic price appreciation if ETF demand materializes as projected.
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Sources
- Crypto Briefing - Canary Funds updates S-1 filing for XRP spot ETF
- The Block - SEC acknowledges spot XRP ETF filing from Canary Capital
- CCN - Canary Capital Joins XRP ETF Race Despite Uncertainty
- TradingView - Ripple News: New XRP ETF Deadlines Revealed
- Liquidity Feed - XRP SEC Countdown 2025: Complete ETF Approval Roadmap
- MEXC - Canary Capital seeks SEC nod for American-made crypto ETF
- Coinpedia - Full List of XRP ETFs Awaiting SEC Approval
- CCN - XRP ETFs Tracker: Complete List of Issuers and Products
- The Crypto Basic - Here's XRP Price if XRP ETFs Attract $10B in First Month
- Daily Forex - How High Will XRP Rise on October's ETF Approval?
