XRP ETF Ready to Launch Next Week, Confirms Canary Capital CEO at Ripple Swell

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At Ripple’s Swell conference in New York, the buzz around an XRP Exchange-Traded Fund (ETF) hit a new peak. Steven McClurg, CEO of Canary Capital, told the audience, “We’re ready to launch the XRP ETF next week.”

If that happens, XRP could soon join Bitcoin and Ethereum in the list of crypto assets with spot ETFs in the U.S., which will be a major milestone for Ripple and its global community.

McClurg: “XRP Ledger Is Competing with Wall Street”

McClurg made it clear that XRP’s technology is now challenging traditional finance. 

“The way to think about XRP is to think of it as the XRP Ledger and what that is, is financial rails,” he said. “Think about it as competition for the financial system or competition on Wall Street.”

He explained that the XRP Ledger (XRPL) acts as modern payment infrastructure that could replace the expensive global remittance system. Many migrant workers still pay 8-15% in transfer fees, and XRPL can bring that cost down drastically.

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ETF Filings Pick Up Speed

Canary Capital isn’t the only one. Franklin Templeton, Bitwise, Grayscale, WisdomTree, and 21Shares have all updated their filings with the U.S. SEC for spot XRP ETFs.

McClurg revealed that Canary used a “no-delay amendment”, which is a faster route under the SEC’s updated rules. This could allow their ETF to go live as early as November 13, and not even be delayed by the government shutdown in the US. 

These filings come as the SEC’s new chair Paul Atkins adopts a more crypto-friendly stance, cutting the usual ETF approval time from 240 days to just 75. Regulatory sentiment in the U.S. is shifting.

Analysts Expect Billions in Inflows

McClurg believes the demand for XRP ETFs will be strong, predicting $5-10 billion in inflows during the first month. Bitwise CIO Matt Hougan expects similar enthusiasm, saying the “XRP Army will smash-buy the ETF.”

Bloomberg’s Eric Balchunas compared the race to a “Cannonball Run”, referring to a rush among issuers to capture investor attention.

Ripple’s Institutional Push Gains Momentum

Ripple is already positioning itself for an institutional wave. Through projects like Ripple Prime, GTreasury, Rail, and the RLUSD stablecoin, the company is building an ecosystem designed for banks and global payment firms.

Outside the U.S., Canada and Brazil have already seen their first XRP ETFs go live, while seven U.S. filings await approval.

For now, if Canary’s timeline holds, the first U.S. spot XRP ETF could launch within days. Major news for XRP supporters. 

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