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Introduction
Asset manager Canary Capital has removed the critical “delaying amendment” from its spot XRP ETF filing with the SEC, potentially clearing the way for a November 13 launch. This strategic regulatory move follows the company’s successful launch of a SOL ETF using the identical approach earlier this week, signaling Canary’s preparedness for immediate activation pending final approvals from regulators and Nasdaq.
Key Points
- Removing the delaying amendment triggers a 20-day countdown to potential ETF activation on November 13
- SEC Chair Paul Atkins reportedly supports such filings during the current government shutdown
- Bitwise's CIO predicts the XRP ETF could attract massive buying and reach $1 billion in assets quickly
The Regulatory Pathway Clears for XRP ETF
Canary Capital’s updated S-1 filing with the US Securities and Exchange Commission represents a significant procedural shift in the race to launch a spot XRP ETF. By removing the “delaying amendment” that previously gave the SEC control over timing, Canary has effectively triggered a 20-day countdown period that could culminate in a November 13 launch date. This amendment removal signals that the asset manager believes it has addressed all necessary structural requirements and anticipates no further objections from regulators.
The strategic move mirrors Canary’s successful approach with its SOL ETF application, which underwent a similar filing update weeks ago and began trading earlier this week. According to financial journalist Eleanor Terrett, SEC Chair Paul Atkins is reportedly supportive of such filings, particularly as companies leverage the auto-effective method during the current government shutdown. This regulatory environment appears conducive to streamlined ETF approvals, with Bitwise having already employed the same strategy for its SOL, HBAR, and LTC ETF filings.
Industry Experts Forecast Massive Demand
Market participants are expressing strong optimism about the potential success of a spot XRP ETF. Bitwise’s Chief Investment Officer Matt Hougan recently claimed that the XRP Army will “smash-buy the ETF” if the financial vehicle becomes available to investors. Hougan further predicted that spot XRP ETFs could “easily” become billion-dollar funds within the first few months of launching, highlighting the substantial pent-up demand among cryptocurrency enthusiasts and institutional investors alike.
This bullish sentiment was echoed by Nate Geraci, President of Nova Dius Wealth, indicating broad industry support for the potential ETF. The convergence of expert opinion suggests that XRP’s established market position and dedicated investor base could translate into immediate substantial assets under management. The timing appears favorable, with the current regulatory environment and market conditions creating what industry observers see as an ideal launch window for cryptocurrency-based financial products.
XRP Price Action and Market Dynamics
While the ETF developments unfold, XRP has demonstrated positive price momentum, maintaining its position as one of the few larger-cap cryptocurrencies in the green weekly despite a correction following recent Federal Reserve interest rate cuts. The asset currently trades near the $2.50 level, reflecting sustained investor interest amid broader market volatility.
However, analysts caution that significant technical hurdles remain. Market analyst CW identified two major selling walls that XRP must overcome to continue its upward trajectory. If the cryptocurrency can successfully break through these resistance levels, it could open the path toward the coveted $3 price threshold. The potential ETF launch on November 13 could provide the fundamental catalyst needed to propel XRP through these technical barriers, creating a potentially powerful combination of regulatory progress and market momentum.
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