Could the First U.S. Spot XRP ETF Go Live This Week? | CoinDesk Daily

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4.8 • 689 Ratings

🗓️ 12 November 2025

⏱️ 4 minutes

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Summary

Will a pure XRP ETF start trading this week? Canary Funds' XRP Trust is poised to become the first pure spot XRP ETF in the U.S. Once the Nasdaq certifies the listing, expected by end of day Wednesday, the product will become effective, clearing the last regulatory hurdle for a Thursday market open. Will we see the ETF go live on Thursday? CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily." - Break the cycle of exploitation. Break down the barriers to truth. Break into the next generation of privacy. Break Free. Free to scroll without being monetized. Free from censorship. Freedom without fear. We deserve more when it comes to privacy. Experience the next generation of blockchain that is private and inclusive by design. Break free with Midnight, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠midnight.network/break-free⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - Genius Group has partnered with CoinDesk for Bitcoin Treasury Month, launching the Genius x CoinDesk Quest. Participants can join the Bitcoin Academy, complete free microcourses from experts like Natalie Brunell and Saifedean Ammous, and enter to win 1,000,000 GEMs (worth 1 BTC) promoting bitcoin education and adoption.Learn more at: ⁠⁠⁠⁠geniusgroup.ai/coindesk-bitcoin-treasury-month/⁠⁠⁠⁠ - OwlTing (Nasdaq: OWLS) is building invisible rails for global payments. With OwlPay, businesses and users can bridge fiat and stablecoins, send money instantly across borders, and access stablecoin checkout at lower costs. Licensed worldwide, OwlTing delivers secure, compliant, and regulated infrastructure for the digital economy. Learn more at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠owlting.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Taylor Fleming.

Transcript

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0:00.0	Will an XRP ETF launch this week and Circle reports big Q3 profits?
0:05.2	You're watching Coin Desk Daily. I'm your host, Jen Sanassi.
0:14.2	Canary Funds XRP Trust could become the first pure spot XRP ETF to list in the United States.
0:20.1	The firm filed a Form 8A with the SEC
0:22.4	on Tuesday, which according to Bloomberg's ETF analyst Eric Valchunas, signals the fund's readiness
0:28.0	for trading and represents the final procedural step before activation. Once NASDAQ certifies the listing,
0:34.0	the ETF could be effective by Wednesday evening, clearing the way for a Thursday
0:38.1	market open. This would be the first ETF to offer direct one-to-one spot XRP backing, unlike
0:44.0	recently launched hybrid products. The approval would mark a milestone for Ripple's ecosystem
0:48.8	coming nearly two years after spot Bitcoin ETFs debuted. Utility or privacy. The transparency of traditional
0:55.7	blockchains forces a difficult choice. Break free from this limitation with midnight.
1:01.0	CoinDest Bitcoin Treasury Month is brought to you by Genius Group, a Bitcoin Treasury
1:04.5	company listed on the New York Stock Exchange under the ticker, GNS. Looking for a faster,
1:09.8	cheaper way to move money worldwide.
1:11.7	Owl Ting listed on the NASDAQ as Owls is building the rails for stablecoin payments.
1:16.5	Circle, the issuer of the USDC stable coin reported a massive 202% year-over-year increase in net income,
1:23.4	reaching $214 million for the third quarter of this year.
1:27.0	Earnings per share came in at $ cents, crushing analyst expectations of 22 cents,
1:31.5	while total revenue more than doubled to $740 million.
1:35.6	This performance marks a significant turnaround from the second quarter when the company
1:39.8	posted a net loss of $482 million.
1:42.7	The company's growth is fueled by the proliferation of its stable coin, with total
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