XRP ETF Breakthrough: Canary Capital Files SEC Form 8-A for Nasdaq Listing – Here’s What It Means

The crypto world just got a seismic jolt—XRP may soon trade like your grandma's blue-chip stocks.

Canary Capital's SEC Form 8-A filing for a Nasdaq-listed XRP ETF signals Wall Street's latest desperate attempt to stay relevant. Because nothing says 'financial innovation' like repackaging decentralized assets into old-school tradable wrappers.

Why this matters now:

- First-mover advantage: This could be the first XRP ETF to hit US markets, beating Bitcoin purists at their own game.

- Regulatory chess: The SEC's Form 8-A greenlight suggests regulators might finally be learning to speak crypto—or just caving to institutional pressure.

- Price implications: ETF approval typically triggers volatility spikes, and XRP's army of retail investors is already frothing at the mouth.

Wall Street's playbook? Take something revolutionary, slap a 1% management fee on it, and call it 'democratization.' But for XRP holders praying for $10 price targets, this ETF could be their golden ticket—or just another way for suits to skim cream off the top.

• The first U.S. spot XRP ETF is set to debut on Thursday following Nasdaq approval.
• Ripple accelerates its $4 billion acquisition spree, expanding into traditional finance.
• Institutional adoption of crypto grows as U.S. regulations ease under the Trump administration.

Canary Capital has filed FORM 8-A with the U.S. Securities and Exchange Commission, marking the final step towards the launch of the first-ever XRP spot exchange-traded fund (ETF) in the United States.

As soon as the listing is approved by Nasdaq at 5:30 p.m. ET on Wednesday, the fund will be activated to enable trading to start as soon as the market opens on Thursday.

Crypto reporter Eleanor Terrett confirmed that the SEC filing marks the last stage before approval. Observers consider this development to be as big a breakthrough as there was during the initial launch of Bitcoin ETFs and ethereum ETFs.

🚨NEW: @CanaryFunds has filed its Form 8-A. This is the final step before it goes effective at 5:30 PM ET Wednesday once the Nasdaq certifies the listing. When that happens, the last hurdle is cleared and the first $XRP spot ETF will be set to launch Thursday at market open. pic.twitter.com/mXvkrrXbiJ

The crypto community thinks that the XRP ETF has the potential to unleash an influx of institutional investment in the digital asset market.

Some people within the communities pointed out that while this marks an important step forward, it means that there is also a new level of observation that has to be addressed.

As XRP has taken on the ETF structure, it enters the same market as other heavy assets that trade on mainstream exchanges.

Garlinghouse Envisions XRP at Core of Global Finance

Though there is hype surrounding the ETF release, Ripple is taking an aggressive approach to becoming a financial giant.

Speaking to CNBC, CEO Brad Garlinghouse stated that the company has moved from a blockchain firm to one that is a significant player in the financial sector. The company has made close to $4 billion in acquisition fees in 2025.

In the current year, the company has already made two significant acquisitions. In April, it acquired prime brokerage company Hidden Road with an investment of $1.3 billion. In the latest MOVE with an over $1 billion investment, it has acquired GTreasury Software.

In other news, the company has launched “Ripple Prime” with over-the-counter spot market services for US institutions with various tokens. The current market value after $500 million investment is $40 billion.

Ripple’s vision has to do with filling the gap that exists between digital assets and traditional banking, said Garlinghouse.

Their aim to implement blockchain technology in the financial sector is to pioneer a new generation that places XRP as the basis for faster and more affordable international transactions, he added.

Citi and JPMorgan Unveil Blockchain-Based Services

In tandem with the rapid expansion of Ripple’s ecosystem, mainstream banking institutions such as Bank of America, Citigroup, and JPMorgan are also focusing intensely on digital assets.

Citi aims to roll out a crypto custodial solution by 2026, with JPMorgan already offering a “deposit token” on the Base blockchain from Coinbase.

Institutional investors began to inject billions of dollars into spot Bitcoin ETFs since the start of 2024, indicating encouragement for the development and regulation of cryptocurrencies.

The SEC and CFTC began to loosen regulations with the advent of President Trump’s administration.