US asset management firm Cannery Capital has taken a decisive step toward launching a physical Ripple (XRP) exchange-traded fund (ETF). The company has officially removed a "delaying amendment" from its S-1 filing with the US Securities and Exchange Commission (SEC), increasing the likelihood of a November 13 launch.
The delay clause, which states that the ETF issuer will "delay listing activation until the SEC issues a direct approval order," has been removed, indicating that Cannery is ready to proceed with its official schedule without further SEC objections. This means that the revised filing will automatically take effect 20 days after the filing date, and barring any special issues, ETF trading could begin on November 13th.
This update is similar to the scenario Cannery recently implemented in other cryptocurrency ETF applications, including Solana (SOL), Litecoin (LTC), and Hedera (HBAR). Since these ETF applications have already progressed to the launch stage, some predict that the listing of an XRP ETF is only a matter of time.
Eleanor Turrett, a reporter for Foxbiz, a U.S. cryptocurrency media outlet, said, “There is a very high possibility that Cannery’s XRP ETF will be listed on November 13th,” and “In the current situation of the U.S. government shutdown, the launch of an ETF using the ‘auto-effective’ method could be helpful to the industry.”
The market is also reflecting this anticipation. Polymarket, a cryptocurrency prediction market, predicts a near 100% chance of a spot XRP ETF launching this year. Matt Haugen, Chief Investment Officer (CIO) of investment firm Bitwise, predicted that the XRP community would engage in "aggressive buying" upon the ETF's listing, adding that "there's a high probability that it could grow to a $1 billion fund within the first few months of launch." Nate Gerachi, CEO of Novadius Wealth, echoed this sentiment, recognizing the market potential of an XRP ETF.
Price-wise, XRP continues its positive trend. While there was a temporary correction due to the Federal Reserve's interest rate cut, it continues to trend upward on a weekly basis, trading around $2.50 (approximately 3,375 won). Some analysts believe that XRP can easily surpass the psychological target of $3 (approximately 4,050 won) if it overcomes just two selling resistance levels.
In this way, Cannery's move significantly increases the likelihood of an XRP ETF, and this anticipation is being reflected in the cryptocurrency market. Barring any issues with the SEC or Nasdaq approval process, the first XRP-based physical ETF is expected to launch in November.
Get real-time news... Go to TokenPost Telegram
Copyright © TokenPost. Unauthorized reproduction and redistribution prohibited.
