XRP News Today: XRP ETF's Launch Signals Altcoin's Rise in Institutional Investment

Canary Capital's spot XRP exchange-traded fund (ETF) is set to debut on Nasdaq under the ticker XRPC, marking the first direct exposure to the cryptocurrency in the U.S. market. The firm filed a Form 8-A with the Securities & Exchange Commission (SEC) on November 10, triggering an automatic approval process that allows the ETF to launch within 20 days unless objected to by regulators according to reports. Nasdaq confirmed the listing on November 12, clearing the way for trading to begin on November 13 according to the report. This development follows a surge in altcoin ETF activity, with products tied to Solana, Litecoin, and Hedera Hashgraph (HBAR) launching earlier this month as reported.

The XRPC ETF distinguishes itself as a "pure" spot product, holding actual XRP tokens rather than derivatives or futures according to the report. Unlike REX-Osprey's hybrid XRP ETF, which combines direct holdings with cash and derivatives, Canary's offering provides straightforward exposure to XRP's market price as reported. Bloomberg ETF analyst Eric Balchunas noted the filing signals a "launch tomorrow or Thursday" timeline, with the ETF expected to begin trading at market open according to the report. The product will track the XRP-USD CCIXber Reference Rate Index, enabling investors to access XRP through traditional brokerage platforms according to the report.

The approval underscores growing institutional acceptance of altcoins beyond Bitcoin and Ethereum. Canary Capital's move aligns with a broader trend: over $100 million in trading volume was recorded across Solana, Litecoin, and HBAR ETFs in their first week as reported. Market analysts predict the XRPC ETF could outperform these early altcoin funds, citing XRP's $143 billion market cap and growing demand for regulated crypto products according to analysis. Steven McClurg, CEO of Canary Funds, praised the SEC for supporting "free markets" and enabling broader participation according to the report.

The Czech National Bank (CNB) made history by purchasing $1 million in Bitcoin and stablecoins for a multi-year test portfolio. The central bank aims to evaluate the operational, technical, and regulatory challenges of holding digital assets, including custody, anti-money laundering (AML) compliance, and crisis response protocols according to the report. Governor Aleš Michl emphasized the experiment is not a policy shift but a step toward understanding how tokenized assets might reshape financial systems according to the report. The CNB's move mirrors global central banks' growing curiosity about blockchain technology, with institutions like the Bank of England and European Investment Bank also exploring digital assets according to reports.

Market reactions to the XRP ETF news have been mixed. While XRP traded at $2.39 as of early Asian sessions, down 6% in 24 hours according to reports, analysts remain optimistic about institutional demand. JPMorgan recently raised its bitcoin support level to $94,000, citing rising production costs and undervaluation post-liquidations according to the report. The XRPC ETF's launch could further legitimize crypto investments, attracting both retail and institutional capital to XRP according to analysis.