XRP ETF Launch Looms!

The first US spot XRP ETF may launch as soon as Thursday after Canary Capital filed its final paperwork.

Author

Danielle du Toit
November 12, 2025

Here's what we've got for you today:

  • XRP ETF Launch Imminent After Key SEC Filing by Canary Capital

  • Coinbase, Stablecoin Startup BVNK Walk Away From $2B Deal: Report

  • China Accuses US of Stealing $13 Billion in Bitcoin Hack: Bloomberg

  • Bitwise Chainlink ETF Appears on DTCC Site, Tipping Pending Launch

The first US spot XRP ETF may launch as soon as Thursday after Canary Capital filed its final paperwork with the SEC.

  • Canary Capital filed Form 8A with the SEC, which suggests that the first spot XRP ETF could begin trading as early as Thursday.

  • The filing is the final regulatory step before launch, and is similar to the timeline of recent Hedera (HBAR) ETF approvals.

  • Unlike past XRP investment products, Canary’s ETF will hold XRP directly under the Securities Act of 1933, which is a major step for institutional access to the asset.

Coinbase and BVNK called off a $2 billion acquisition deal that would have strengthened Coinbase’s stablecoin business.

  • Coinbase and BVNK mutually decided to end talks on a $2 billion acquisition that would have greatly expanded Coinbase’s institutional stablecoin capabilities.

  • The firms entered exclusive negotiations in October and reached the due diligence phase before agreeing not to move forward.

  • The deal would have been Coinbase’s second-largest after its $2.9 billion Deribit acquisition.

China’s cybersecurity agency accused the US government of stealing $13 billion in Bitcoin from the LuBian mining pool.

  • China’s cybersecurity agency accused the US government of stealing over 120,000 Bitcoin worth about $13 billion from the LuBian mining pool in December of 2020.

  • The agency claims the theft was a “state-level hacker operation,” due to the slow and calculated movement of the stolen funds.

  • LuBian was once the sixth-largest Bitcoin mining pool, but collapsed shortly after the hack erased most of its holdings.

Bitwise’s spot Chainlink ETF has been listed on the DTCC registry under ticker CLNK, signaling progress toward a possible launch.

  • Bitwise’s proposed spot Chainlink ETF has appeared on the DTCC’s registry under the ticker CLNK, which is a key step that often precedes an ETF launch.

  • The listing in the “active” and “pre-launch” categories suggests progress toward approval, though SEC clearance has not yet been granted.

  • Bitwise still needs to file Form 8-A with the SEC, which is one of the final requirements before the ETF can officially begin trading.

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