The source provides an extensive overview of the launch of the Canary XRP ETF, the first spot XRP exchange-traded fund to achieve full registration with the U.S. Securities and Exchange Commission (SEC), set to trade on the Nasdaq under the ticker XRPC starting November 13, 2025. This development is described as a major milestone, validating the XRP cryptocurrency after its protracted legal battle with the SEC over securities allegations, which largely concluded in Ripple's favor in 2023. The episode details the ETF's structure, including its 0.50% expense ratio and use of the CME CF XRP-USD Reference Rate Index for pricing, and examines the immediate market reaction, noting a 10% price surge for XRP and forecasts of billions in potential inflows from institutional investors seeking regulated access to the asset. Finally, the source places the Canary launch within the broader context of accelerating U.S. crypto regulation and a pipeline of competing XRP ETF filings.

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