XRP News Today: Introduction of XRP ETF Marks Growing Institutional Interest in Altcoins

Canary Capital’s spot

exchange-traded fund (ETF) will soon launch on Nasdaq with the ticker symbol , introducing the first ETF in the U.S. to offer direct access to this cryptocurrency. The company submitted a Form 8-A to the Securities & Exchange Commission (SEC) on November 10, initiating an automatic review period that permits the ETF to go live within 20 days unless regulators intervene . Nasdaq verified the listing on November 12, paving the way for trading to commence on November 13 . This milestone comes amid a wave of new altcoin ETFs, with funds linked to , , and (HBAR) launching earlier this month .

The

stands out as a true spot ETF, holding actual XRP tokens rather than relying on futures or derivatives . In contrast to REX-Osprey’s hybrid XRP ETF, which blends direct holdings with cash and derivatives, Canary’s product gives investors pure exposure to XRP’s price movements . Bloomberg ETF analyst Eric Balchunas indicated that the filing points to a launch as soon as tomorrow or Thursday, with trading expected to start at the market’s opening bell . The ETF will follow the XRP-USD CCIXber Reference Rate Index, making it possible for investors to access XRP through standard brokerage accounts .

This approval highlights the increasing acceptance of altcoins by institutional investors, expanding beyond

and . Canary Capital’s initiative reflects a broader movement: in their first week, Solana, Litecoin, and HBAR ETFs collectively saw over $100 million in trading volume . Experts believe the XRPC ETF could surpass these early altcoin funds, pointing to XRP’s $143 billion market capitalization and the rising interest in regulated crypto investment vehicles . Steven McClurg, CEO of Canary Funds, commended the SEC for fostering open markets and expanding investor access .

The Czech National Bank (CNB) broke new ground by acquiring $1 million in Bitcoin and stablecoins for a long-term experimental portfolio. The central bank’s objective is to assess the operational, technical, and regulatory aspects of managing digital assets, including custody, anti-money laundering (AML) protocols, and crisis management procedures

. Governor Aleš Michl clarified that this initiative is not a change in policy, but rather an effort to better understand how tokenized assets could transform financial systems . The CNB’s actions reflect a global trend among central banks, with institutions such as the Bank of England and the European Investment Bank also investigating digital assets .

Market responses to the XRP ETF announcement have been varied. XRP was trading at $2.39 during early Asian hours, reflecting a 6% drop over the past day

, but analysts remain positive about institutional interest. JPMorgan recently increased its bitcoin support level to $94,000, citing higher production costs and the asset’s undervaluation following liquidations . The debut of the XRPC ETF may further validate cryptocurrency investments, drawing both retail and institutional investors to XRP .