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The long-awaited $XRPspot ETF could soon become a reality. Canary Funds has removed the SEC “delaying amendment” clause from its S-1 registration filing. It’s a move that clears the way for the $XRPETF to automatically take effect on November 13, 2025. The update has sparked fresh optimism in the $XRPcommunity. Which has been waiting for mainstream financial exposure to the digital asset.

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CANARY REMOVES SEC DELAY CLAUSE — $XRPSPOT ETF NOW ON TRACK FOR NOVEMBER 13 AUTO-EFFECTIVE LAUNCH. pic.twitter.com/K2FFA88zOj

— STEPH IS CRYPTO (@Steph_iscrypto) October 31, 2025

Canary Funds Removes SEC Delay Clause

Canary Funds’ latest filing marks a bold step toward regulatory independence. The removal of the “delaying amendment” means the fund is invoking Section 8(a) of the Securities Act of 1933. This allows its registration to become automatically effective after 20 days. Unless the U.S. Securities and Exchange Commission (SEC) intervenes.

In simple terms, this eliminates the SEC’s control over when the ETF can go live. A move that accelerates the launch process. If no objections or additional comments are issued. The ETF will officially become effective by mid-November. The filing also confirms that the Canary $XRPETF will trade on Nasdaq. It is giving traditional investors a regulated way to gain exposure to $XRP’s price without holding the token directly.

Structure and Custody Details

According to the prospectus, the Canary $XRPETF is designed to mirror the value of $XRP, adjusted for operational costs. It references the CoinDesk $XRPCCIX New York Rate. This aggregates $XRPtrading data across major platforms to ensure accurate pricing. Canary Capital Group LLC serves as the sponsor. While CSC Delaware Trust Company acts as the trustee and transfer agent.

U.S. Bank handles cash custody and Gemini Trust Company and BitGo Trust Company serve as the digital asset custodians. A dual setup aimed at enhancing security and transparency. This structure closely mirrors that of previously approved crypto ETFs. This signaling Canary’s intent to meet institutional standards.

Following the Playbook of Other Crypto ETFs

Canary’s strategy mirrors successful filings by other asset managers like Bitwise. Who recently launched spot Solana, Litecoin and Hedera ETFs using the same auto-effect mechanism. The method, reportedly supported by SEC Chair Paul Atkins, offers a legal route for ETF launches. Even when the Commission’s regular review process is slowed or suspended, such as during government shutdowns. By removing the delay clause, Canary is effectively setting the clock in motion. It is banking on a smooth 20-day countdown to approval.

What Comes Next

While the move signals confidence, the $XRPETF’s launch is not guaranteed. The SEC can still halt the process if it issues new comments or objections before the effective date. Additionally, the Nasdaq exchange must still approve the ETF’s Form 8-A application before trading can begin. Still, the move marks a major step forward for $XRP’s mainstream adoption. If successful, the Canary $XRPETF could open a new gateway for institutional investors. It potentially triggers a new phase of momentum for the $XRPecosystem.

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