Canary's S-1 amendment could clear the way for XRP ETF by Nov 13

Canary Capital has taken a key procedural step that could clear the way for a U.S. spot XRP exchange-traded fund to begin trading as soon as November 13, after the asset manager amended its S-1 registration to remove a delaying clause that had allowed the Securities and Exchange Commission to control the timing of effectiveness. The change shifts the filing to the automatic effectiveness pathway under Section 8a of the Securities Act of 1933, meaning the registration could go live after the 20-day statutory waiting period if the SEC does not raise further comments and Nasdaq approves the fund’s Form 8-A listing.

The removal of the delaying amendment was disclosed in the updated S-1 submitted in late October and positions the fund to become effective automatically unless the SEC intervenes. Nasdaq’s approval of the listing application remains a separate and required step before the ETF can begin trading. Regulators could still delay the launch by issuing new comments, which would require amendments and reset the clock.

The move follows a string of recent altcoin ETF launches that used the same autoeffective route, including funds tied to Solana, Litecoin, and Hedera. SEC Chair...