Canary Capital's XRP ETF Awaits SEC Approval for November Launch

According to PANews, Canary Capital has updated its S-1 filing for its XRP spot ETF, removing the 'delayed amendment clause' that previously hindered automatic registration. This change transfers the scheduling control to the U.S. Securities and Exchange Commission (SEC). If Nasdaq approves the 8-A form application, Canary's XRP ETF is set to launch on November 13. However, the reopening of government offices could affect this timeline. If the application materials are complete and the SEC is satisfied, the launch could occur earlier; otherwise, it may be delayed if further feedback is required. Notably, the SEC Chairman appears to support the use of the automatic effectiveness mechanism by companies. Although he did not comment directly on the ETF launch, Paul Atkins expressed his approval of companies like MapLight utilizing the 20-day statutory waiting period during the government shutdown. He also praised Bitwise and Canary for employing the same legal mechanism in launching SOL, HBAR, and LTC ETFs this week.