Well, would you look at that? Canary Capital has wobbled into the SEC’s ball pit with their shiny new paperwork-like a kid who’s finally figured out how to open the candy jar without getting caught. They filed a fancy thing called Form 8-A on November 10, 2025-because who doesn’t love a good regulatory countdown?-which basically says, “Hey, we’re legit, ya know?” and sets the clock ticking for Nasdaq to maybe, possibly, hopefully list their XRP-backed ETF. Fingers crossed, and don’t forget to breathe!
Final steps to turning this crypto circus into a listed spectacle
Rumor has it, the ticker-brace yourselves-will be XRPC, because who doesn’t love some punk rock in finance? Once Nasdaq gives the thumbs-up and the waiting game plays out, expect the trading floor to go nuts. So far, the earnestly optimistic are eyeing a miracle date of November 13. But hey, with SEC and Nasdaq’s mood swings, don’t hold your breath-unless you like to meditate in line.
CEO Steven McClurg at Canary Capital on XRP ETF.. #XRP
– RIZ.. (@RizXRP) November 10, 2025
McClurg, the man with a plan, says this ETF could double Solana’s first-week gains-and who wouldn’t want that kind of magic? Especially when XRP’s market cap is flirting with billions-more zeros than your last date’s phone number. Interest? Oh it’s hot enough to fry an egg on the blockchain!
Money talk, fees, and other fun stuff
The unicorn’s horn here? A management fee of 0.50%, because crypto funds are basically swimming pools of little surprises. They’ve got Gemini and BitGo Trust on custodian duty-trustworthy, because who needs surprises there? U.S. Bank is also in on the fun, playing the responsible adult while everyone else is riding this rollercoaster.
And just in case you’re curious, XRP was worth around $173 billion back in October-number five in the digital asset zoo. Now, it’s hovering at about $146 billion, apparently deciding whether to set a new record or take a long nap.
Market mood swings & what’s next
As you’d expect, the market reacted like a squirrel on Red Bull-xrp shot up by 8% in a flash, then lost 3.5% just because someone blinked. Traders will be glued like cats to a laser pointer once trading kicks off, waiting for the sacred notices and those early volume numbers. Until then, it’s a waiting game-a thrilling, wallet-bursting, adrenaline-pumping waiting game.
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2025-11-12 09:11