Canary Funds Targets November 13 XRP ETF Launch

Canary Funds removed the "delaying amendment" from its S-1 for a spot XRP ETF, allowing the registration to become auto-effective after the 20‑day statutory waiting period and positioning the fund for a possible November 13 launch. The launch is contingent on Nasdaq approving the fund's Form 8‑A and on the SEC not intervening; Nasdaq sign‑off is now the last operational step. The auto‑effective route is the same mechanism used to bring Solana, Litecoin and Hedera spot ETFs to market during the government shutdown, and SEC Commissioner Paul S. Atkins has publicly supported issuers using the 20‑day waiting rule. Timing remains uncertain because the SEC could still issue comments or act once government operations resume. The filing comes amid strong market interest in altcoin ETFs and reports of roughly $11 billion in global institutional exposure to XRP, and other issuers including Grayscale say XRP ETFs remain on their roadmaps but were delayed by paused SEC reviews during the shutdown.