Meanwhile, the probability of this year’s launch on Polymarket is still close to 100%.
Popular asset management firm Canary Capital has updated its Spot XRP ETF S-1 filing with the U.S. Securities and Exchange Commission, removing a “delay amendment” that could guarantee the fund’s imminent launch within 20 days.
It is worth noting that Canary similarly updated its SOL ETF application a few weeks ago and began trading the product earlier this week.
🚨Scoop: @canaryfunds has filed an updated S-1 $XRP Spot ETF removes “delayed amendment” that halts automatic effectiveness of registration; @SECGov Control of timing.
This sets the canary. $XRP Assuming the ETF is scheduled for a release date of November 13th… pic.twitter.com/MKvEN23t5P
— Eleanor Terrett (@EleanorTerrett) October 30, 2025
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The proposed deferral amendment essentially directs regulators to defer ETF operations until the issuer explicitly confirms to the SEC that the ETF is ready to begin operations. Removing it from the application means that Canary has all the necessary structural points and no further objections from the watchdog are expected.
As a result, the updated filing has a 20-day expiration date and a Nov. 13 start date, after which the ETF can legally begin trading unless the SEC suspends it or Nasdaq approves the 8-A filing.
As Eleanor Terret explained, SEC Chairman Paul Atkins reportedly supports such filings, which could be even more beneficial during the current government shutdown, as companies look to take advantage of automatic methods. As mentioned above, Canary and Bitwise already use this approach in their SOL, HBAR, and LTC ETF applications.
Bitwise CIO Matt Hogan recently claimed that the XRP army will “buy ETFs like crazy” once the financial instrument sees the light of day. He also predicted that the Spot XRP ETF could “easily” become a $1 billion fund within the first few months of launch. This statement was echoed by Nate Geraci, president of Nova Dius Wealth.
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Main XRP sales wall
XRP had a good week in terms of price action, at least until the correction after the Fed rate cut. It remains one of the few large-cap cryptocurrencies on Green Weekly, trading near $2.50.
Analyst CW claimed that this asset has two major sell walls on its way north. If you manage to get past them, you’ll open the door to the coveted $3 price tag.
In the short term, $XRP There are two sales barriers.
If we can break through these, there is no particular selling wall up to $3. pic.twitter.com/d11MVEkySd
— CW (@CW8900) October 31, 2025
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