Canary XRP ETF Goes Live on Nasdaq — Ticker XRPC - video Dailymotion

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XRP is officially breaking into Wall Street — with the Canary XRP ETF set to debut on the Nasdaq under ticker symbol XRPC. Despite the U.S. government shutdown, Nasdaq has certified and approved the fund for listing, thanks to SEC guidance allowing crypto ETFs to go effective without a delaying amendment. This makes Canary Capital Group’s ETF one of the first XRP-linked products to hit a major U.S. exchange under the new rules.  📧 Email: cryptorobothelp@gmail.com  💰 Affiliate Links  Sofi Checking & Savings – Get $25 free ➝ https://www.sofi.com/invite/money?gcp=16a53d0f-b4b2-441d-9100-cfb506305260&isAliasGcp=false  Sofi Investing – Free $25 in stock ➝ https://www.sofi.com/invite/invest?gcp=ab31edd8-701e-4109-9225-51b41e35d246&isAliasGcp=false  Coinbase Exchange – Earn up to $300 BTC ➝ https://coinbase.com/join/YPUQLCY?src=referral-link  Tracking Tools – CoinGecko | CoinMarketCap  Trading Tools – Get $15 off TradingView ➝ https://www.tradingview.com/pricing/?share_your_love=cryptonextsteps  #XRP #XRPC #XRPETF #CryptoNews #Nasdaq #CryptoETF #Ripple #Finance #Investing #Altcoins #Bitcoin #Blockchain #Dogecoin #MarketNews #CryptoInvesting

Transcript

00:00Welcome to the Deep Dive. Today we're looking at something pretty extraordinary, almost like

00:04something out of a movie script. Right. We're talking about the launch of the first

00:08TrueSpot XRP ETF. It's XRPC from Canary Capital listed on Nasdaq. And here's the absolutely wild

00:17part. This happened even though the U.S. government was shut down for 42 days. Washington was gridlocked

00:23but Wall Street, well, it found a way. Okay, let's unpack this. Yeah, and this isn't just some

00:29minor regulatory footnote. It's huge. It signals real institutional acceptance for XRP.

00:34After all that legal drama. Exactly. Years of it. So XRP now joins basically Bitcoin and Ethereum

00:40as the only major cryptos with this kind of mainstream ETF vehicle. It really changes the

00:47game for how traditional finance interacts with digital assets. And for you listening,

00:51maybe you're an investor, maybe you manage retirement funds. This is really the crucial

00:54piece, isn't it? Absolutely. This ETF puts XRP exposure right into the normal investment world.

01:00We're talking pensions, RAs, wealth managers, all without needing to mess with, you know,

01:05private keys or crypto exchanges. Right. None of that technical friction. It's just a ticker symbol

01:10on a major exchange. It feels like the highest level of sort of institutional integration you can get.

01:16It really lowers that barrier to entry. That barrier that kept a lot of the, let's call it legacy

01:22money, out for so long. And think about it. XRP already has this massive global following among

01:29retail investors. Huge. So this ETF is like a bridge, a bridge for potentially significant

01:36institutional capital to finally flow in. Okay, but let's get into the real, you know,

01:41the true deep dive here. Because the first question on everyone's mind was, how? Right.

01:46How on earth do you launch a major financial product, get it trading on NASDAQ, when the SEC,

01:52the main regulator, is essentially dark because of a shutdown? This is where it gets really

01:56interesting. It is fascinating. What Canary Capital did was, well, they used a rarely triggered kind of

02:00automatic regulatory process. They basically took advantage of a situation created by the SEC's own

02:05emergency guidance issued for the shutdown. Okay, walk us through that mechanism. It really does sound

02:09like they found some kind of regulatory backdoor. They pretty much did. So normally, when you file

02:15an S-1 form for an ETF, that's the big initial registration document. It's the foundation.

02:20Right. You include something called a delaying amendment. It sounds technical, and it is, but

02:24it's vital. It basically tells the SEC, take your time reviewing this. And crucially, it stops the

02:30filing from just automatically becoming effective. It keeps it in limbo until the SEC gives the green

02:36light. Precisely. So what happens if you file that S-1 without the delaying amendment?

02:41Uh-oh. The clock starts. The clock starts ticking. Immediately. There's a provision in the Securities

02:46Act of 1933 that says without that amendment, the filing automatically becomes effective in 20 calendar

02:53days. 20 days.

02:54And because of the shutdown, the SEC had actually put out guidance allowing issuers to file without

02:59the amendment. Canary saw their chance. No active regulators meant no one was there to hit pause on

03:06that 20-day countdown. So it's like setting a timer, and since nobody was home to turn it off,

03:11boom, it just went live on its own schedule.

03:13It's an administrative self-activation, essentially.

03:15Yeah. Okay, but isn't that incredibly risky? I mean, what happens when the government reopens?

03:19Couldn't the SEC just come in and say, hold on, we didn't approve this, and try to pull it?

03:23That is absolutely the calculated risk Canary took. It's a huge gamble.

03:28What are they betting on?

03:29They're betting that the market disruption, the political fallout of trying to unlist

03:34an already trading functioning spot ETF, especially one that technically met all the NASDAQ listing

03:41rules approved before the shutdown, would be just too messy. More trouble than it's worth for the

03:46returning regulators.

03:48So get established fast, become part of the furniture before anyone can object too strongly.

03:53Achieve market maturity before regulatory scrutiny fully resumes. And look, this kind

03:58of auto-effective mechanism, it's not totally unheard of. It's been used in other sectors

04:02during past shutdowns, like in 2019 and 2023.

04:05Ah, okay.

04:06But never like this, never with a crypto asset under this intense public spotlight.

04:10It's a first for this space.

04:12And the timeline just shows how aggressive this was. They filed the required Form 8A, that's the short

04:17registration form on a Tuesday. NASDAQ certified it Wednesday. Trading started Thursday. Three days.

04:24Zero active SEC sign-off needed at that point.

04:27They didn't ask for permission. They used the existing rules, the statutory framework that was

04:31available because of the shutdown, to get to market. It's a pretty textbook case of regulatory

04:36arbitrage meeting market demand.

04:38But this whole administrative maneuver, this hack, it wouldn't have even been conceivable

04:42without that huge legal win for XRP that came before, right?

04:46Why, absolutely not.

04:47This listing feels like the final chapter, institutionally speaking, of that whole XRP

04:51legal saga. That thing dragged on from 2020 to basically 2024.

04:56You're exactly right. We have to remember, just briefly, the SEC sued Ripple back in 2020.

05:01They claimed XRP itself was an unregistered security.

05:04And that caused chaos. Delistings, institutions ran, scared.

05:07Complete chaos. Major U.S. exchanges dropped it. Institutional investment just dried up.

05:12Years of uncertainty followed. It really put XRP in, well, legal purgatory in the U.S.

05:18Yeah, like a four-year financial drought in the U.S. market. So what was the specific legal

05:23moment in 2023 that suddenly flipped the switch and made this ETF even possible?

05:28The key was Judge Torres' ruling. It was very specific. She drew a line between different

05:33types of XRP sales.

05:35Okay.

05:35She found that direct sales to institutions, you know, big, sophisticated buyers under contract,

05:40those did count as unregistered securities offerings. But, and this is the crucial part,

05:45she ruled that sales on the secondary market...

05:47Like on exchanges to regular people.

05:49Exactly. Those programmatic, blind-buy-to-offer sales to the public.

05:53She ruled, those did not meet the legal test for an investment contract, the Howey test.

05:59That distinction, secondary market sales are okay. That was everything.

06:01That was the green light. That ruling provided the legal clarity needed.

06:05Exchanges could relist, and critically for this conversation,

06:09ETF issuers felt comfortable moving forward. It confirmed that trading XRP in the open market

06:14was legally sound.

06:15So this ETF launch, it's really the symbol that that whole painful chapter is over.

06:20XRP is back in the U.S. mainstream, back in the institutional pipeline.

06:25It absolutely is. The path is clear now.

06:27Okay. So the door is open, but now the race is on, and it looks absolutely brutal out there.

06:32We're hearing names like Bitwise, 21Shares, WisdomTree, ProShares, Grayscale.

06:38All the big players.

06:38They're all jumping in, right? Trying to grab a piece of what could be billions flowing in

06:45from XRP's huge global retail base. Those folks have been waiting for something like this.

06:50They've been itching for institutional-grade access, for sure. And the competition isn't

06:55just about who gets there first, although that matters. It's also about the structure of the ETF.

07:00Right. Canary got that first mover advantage with XRPC. Pure spot exposure, simple structure,

07:05NASDAQ listed. It's what most people think of when they hear spot ETF.

07:09It's the most direct way to track the price, yeah. Very straightforward, familiar to investors.

07:13But the source material we looked at highlights a major competitor that took a totally different

07:17path. The REX shares XRP ETF. They launched earlier, actually, but used the Investment Company

07:23Act of 1940. What's the difference there? That's a really significant difference,

07:26especially for traditional finance types. The 1940 Act is the framework that governs things like

07:31mutual funds. Right. It's older, generally seen as much stricter than the 1933 Act used for Canary

07:37spot ETF. Stricter how? It imposes tougher rules on things like liquidity, how assets are valued,

07:43and really importantly, custody. Funds under the 40 Act usually need things like independent

07:49custodians, stricter daily pricing rules. It offers an extra layer of investor protection.

07:55So the REX structure is different. It's not pure spot.

07:58It's more of a hybrid. It does hold XRP directly, but it also has to invest a big chunk,

08:03the sources say over 40%, into other XRP-related things. That could be derivatives, maybe other

08:08funds tracking XRP, things like that. Ah, okay. So it offers maybe higher regulatory

08:13protections, as the source puts it. That's the perception, yes. Those stricter 40 Act rules often

08:18appeal more to really conservative institutions like big pension funds or endowments. They might prefer

08:23that structure because their own rules, their fiduciary duties, push them towards products,

08:27with those extra layers of oversight. So interesting trade-off. Canary's XRPC is the

08:32first pure spot ETF got in using the shutdown timing. The hack. The hack, right. But REX might

08:39appeal more to the really cautious, heavily regulated institutional money because its structure feels

08:45safer under that older 1940 Act. Potentially, yes. But right now, Canary has that crucial edge

08:53availability. They are live and trading during this regulatory quiet period.

08:58And in this game, being available first counts for a lot. Availability is currency, absolutely. They

09:04could capture that initial wave of capital just because they're the only pure spot option on the

09:08shelf right now. The bigger firms might take months to get their own filings approved, even after the

09:13government is back up and running. Okay, so this whole chain of events, the legal win, the aggressive

09:18launch during the shutdown, this intense competition brewing, it really feels like it kicks off what you

09:22could call the crypto ETF era. I think that's fair to say. And it suggests the next domino is probably

09:27already teetering. Well, if you connect the dots, look at the bigger picture. The market seems to be

09:32rapidly moving to establish the next asset class for ETFs after Bitcoin, Ethereum, and now XRP.

09:39And that seems to be Dogecoin. Dogecoin. Seriously, the original meme coin. The very same. But listen,

09:45this isn't just wild speculation anymore. Our sources are confirming REX and Osprey already launched

09:51DOGE, a Dogecoin ETF a few weeks back. Wow. Okay. And there's confirmation that Grayscale has a DOGE

09:58ETF in the works, likely to go effective perhaps as soon as November 23rd. So DOGE could actually

10:04become the fourth major crypto ETF class. That's kind of stunning. It signals we're moving beyond

10:10just the utility arguments for crypto. It really does. It suggests the process is becoming more

10:14standardized. The regulatory plumbing is mostly in place now based on the BTC and ETH fights. It seems

10:19less about fighting for legitimacy for each coin and more about just filing the paperwork and meeting

10:24the existing listing standards. We really are watching the creation of this crypto ETF era in real

10:29time. It's opening the door for mainstream money to flow into a much wider range of digital assets than

10:36maybe many people expected. Definitely broader than initially thought. All right. So let's try and

10:40summarize. We've seen how Canary Capital used a pretty clever regulatory loophole during the government

10:46shutdown. Right. That auto activation. To get the first spot XRP ETF listed, basically cementing

10:53XRP's institutional legitimacy after that long legal battle. And now we've got this fierce competition

10:59shaping up even between different ETF structures like the Pure Spot 33 Act versus the more protected

11:0540 Act funds. And the speed of it all just shows how fast traditional finance is trying to integrate

11:10these digital assets now. Which, you know, it raises a big question for you, the listener. Yeah.

11:14Is this shutdown hack? Is it a sign of regulatory chaos? Or maybe is it a sign of the market maturing,

11:20sort of taking control of its own destiny when the regulators are sidelined?

11:24That's a great question. And maybe even more practically. Which of these asset classes,

11:29Bitcoin, Ethereum, XRP, or even DOGE, do you think has the most upside now that they're getting this

11:35institutional stamp of approval via ETFs? The momentum feels huge.

11:40It really does. And just before we wrap up, if you found this deep dive helpful, you know,

11:46digging into the regulatory nuts and bolts and the race for XRP money.

11:50Yeah. We'd really appreciate it if you could engage with the channel.

11:53Exactly. Liking the video, subscribing, maybe hitting that notification bell. It honestly helps

11:59us a lot. It tells the algorithms that people are interested, boosts visibility.

12:03And lets us keep digging into these big stories, the ones really shaping where crypto is heading.

12:07We rely on that support. We really do. So thanks again for tuning in with us to unpack the legal

12:12groundwork and the sheer administrative audacity behind this unprecedented XRP ETF launch.

12:18It's been quite a story. Definitely. We'll see you next time for the next deep dive.

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Canary XRP ETF Goes Live on Nasdaq — Ticker XRPC

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