This week, progress towards the launch of the XRP exchange-traded fund (ETF) was signaled by the addition of the Canary XRP ETF to the eligibility list by the Depository Trust & Clearing Corporation (DTCC). However, many experts caution that this step is not a sign of imminent approval.
Pre-Launch Setup, Not SEC Approval
The DTCC, which clears and settles most U.S. securities trades, regularly adds pending funds to its system in preparation for trading if regulators eventually give the green light. This list also includes Fidelity's Solana ETF and Canary's Hedera ETF. Nonetheless, a warning was issued by Nate Geraci, president of The ETF Store, who explained: "DTCC listing is just standard ETF plumbing," emphasizing that only the SEC can authorize a launch.
Active XRP Products
Canary's proposal joins a growing roster of XRP-related funds. Several futures-based XRP ETFs from managers such as ProShares and Volatility are already live and clearing through the DTCC. The addition of the Canary spot ETF simply ensures that market infrastructure is ready if and when the SEC grants approval.
Market Optimism and Price Forecasts
Despite the slow regulatory pace, sentiment around XRP remains upbeat. Prediction platform Polymarket places the odds of at least one U.S. spot XRP ETF approval in 2025 at 92%. Institutional participation is already strong, with futures-based XRP ETFs holding over $800 million in assets. Current projections suggest price increases, with technical analyst Dark Defender predicting potential moves towards $4.40 and $5.85.
The listing of the Canary ETF by the DTCC highlights how market infrastructure is positioning itself ahead of any regulatory decision, yet the final call rests with the SEC. Until that verdict arrives, XRP investors can only observe growing institutional interest and the market's preparation for a potential breakthrough.
