US-based asset manager Canary Capital, XRP updated the spot ETF application for the market launch date as November 13. determined. The company speeded up the process by removing the delaying amendment that prevented the registration from taking effect automatically.
Approval Process for XRP ETF Gains Speed
Canary CapitalFollowing its successful launch of Solana and HBAR ETFs last week, it has taken a similar step for XRP. The change to the company’s S-1 filing allows the application to take effect automatically. Bloomberg ETF strategist Eric Balchunasstated that the XRP ETF documents involve less interaction with the SEC compared to the Solana ETF application and evaluated it as “An initiative worth trying”.
CNBC reporter Eleanor TerretAccording to , the ETF’s launch is contingent on Nasdaq approving the 8-A filing. If the SEC completes its investigation and does not object. ETFIt is also possible to put into operation ahead of schedule. It is stated that SEC Chairman Paul S. Atkins favors the automatic activation method during the partial government shutdown.
Expectations Are Rising for XRP ETFs
Released six weeks ago by Rex-Osprey XRP ETFmade a strong start, reaching a size exceeding $100 million in a short time. Bitwise CIO Matt Houganpredicts that XRP ETFs could turn into billion-dollar funds in the first months. “Although skepticism towards XRP is high in the cryptocurrency market, the investor base is extremely committed and buying-oriented,” Hougan told DL News.
There are currently approximately 20 XRP ETF applications pending before the SEC for approval. Bitcoin 
$110,521.68 and 23 each in Solana ETFs, Ethereum 
$3,911.77In , 16 applications are pending. Analysts say if the approval process accelerates XRP coinIt evaluates the possibility of a rally in the price of up to $10.
