In a masterstroke of regulatory finesse, Canary Capital has performed the equivalent of a pirouette through the SEC’s bureaucratic thicket, amending its XRP ETF application by excising the “delayment amendment”-a bureaucratic straitjacket previously preventing an automatic launch. This, dear reader, may herald the fund’s debut on November 13, provided the gods of compliance do not hurl a tantrum. One might say the firm has traded its harpoon for a feather duster.
Such alchemy was previously performed with their SOL ETF, which now dances on the Nasdaq like a freshly pressed waistcoat. The parallels are uncanny, and one suspects Canary’s legal team has been binge-watching Masterpiece Theatre for inspiration.
SCOOP: @CanaryFunds has stripped its $XRP ETF filing of the “delaying amendment,” thereby surrendering the SEC’s leash and declaring, “We are ready, O Regulator, though we dare you to stop us.”
This sets the stage for a November 13 curtain call-assuming the Nasdaq doesn’t trip over its own shoelaces.
– Eleanor Terrett (@EleanorTerrett) October 30, 2025
The “delayment amendment,” for those unversed in the jargon-laden lingo of finance, is a polite nod to the SEC, stating, “We shall not proceed until you wave the green flag.” Its removal is akin to a Victorian gentleman removing his top hat in the presence of royalty: a gesture of readiness, if not outright defiance.
With the 20-day clock now ticking, the ETF’s fate rests on the whims of the SEC and the Nasdaq’s 8-A filing-a document so labyrinthine it could rival Brideshead Revisited in complexity. SEC Chair Paul Atkins, meanwhile, appears to be conducting this circus with the enthusiasm of a man who finally mastered Excel pivot tables.
Bitwise’s CIO, Matt Hougan, has predictably declared the XRP Army will “smash-buy” the ETF, a phrase that sounds less like financial analysis and more like a call to arms at a particularly rowdy tavern. Nate Geraci of Nova Dius Wealth, ever the optimist, concurs, as if they’ve both been handed a script by a crypto prophet.
Obstacles, Oh So Many
XRP’s recent price performance has been a rollercoaster more thrilling than a Bond villain’s monologue. It clings to $2.50 with the desperation of a man in a wet tuxedo at a garden party. Analyst CW, ever the dramatist, warns of two “selling walls” looming ahead-a term that suggests financial fortresses guarded by dragons and spreadsheets.
$XRP faces two selling walls in the short term. Should it breach these, the path to $3 is clear-though one suspects the dragons may have unionized.
– CW (@CW8900) October 31, 2025
And so, the stage is set for a spectacle of regulation, speculation, and the occasional emoji. Whether November 13 becomes a date etched in crypto legend or a footnote in the SEC’s annual report remains to be seen. But if history has taught us anything, it’s that markets thrive on drama-and this plot has more twists than a Charles Dickens novel.
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2025-10-31 12:48