BREAKING: Likely Date for XRP Spot ETFs Set – Final Hurdle Cleared

According to crypto journalist Eleanor Terrett, Canary Funds has updated its XRP spot ETF application submitted to the US Securities and Exchange Commission (SEC).

The company removed the “delaying amendment” clause in the filing, allowing the registration to take effect automatically. This change eliminates the SEC’s control over the timing, allowing the ETF to automatically become active after a specified period.

According to Terrett, this step sets the stage for Canary’s XRP spot ETF to launch on November 13. However, this date is contingent on Nasdaq approving the 8-A filing.

Officials say the government reopening could also impact the timing. If the filing process is complete and the SEC doesn’t request additional comments, the date could be brought forward; otherwise, it could be postponed due to reviews.

Another noteworthy point was SEC Chairman Paul S. Atkins’ statement supporting such automatic entry-into-market mechanisms. While not commenting directly on ETFs, Atkins expressed his support for companies like MapLight using the 20-day legal waiting period to go public.

Atkins also noted that the same legal mechanism was used by Bitwise and Canary Funds to launch SOL, HBAR, and LTC ETFs this week, calling the process a “positive example of how capital markets work.”

*This is not investment advice.