Analysts say that the launch will be a massive historic milestone for XRP, which could potentially solidify its place alongside Bitcoin and Ethereum in the growing lineup of US spot crypto ETFs. At the same time, well known XRP advocate and attorney John Deaton announced his 2026 Senate bid to challenge Democrat Ed Markey in Massachusetts. Deaton is known for defending XRP holders in Ripple’s SEC case, and his pro-crypto stance could make him a big voice in the upcoming race.
First XRP ETF Nears US Launch
The long-awaited arrival of a US-based exchange-traded fund (ETF) directly holding XRP may finally become a reality. Crypto investment firm Canary Capital filed the final paperwork needed to launch its spot XRP ETF, which suggests that trading could begin as soon as Thursday.
According to Bloomberg ETF analyst Eric Balchunas, Canary submitted a Form 8A with the US Securities and Exchange Commission (SEC) on Monday evening, which is a required step before any security can be offered on an exchange. Balchunas believes that the timing of the filing mirrors the process seen with Hedera (HBAR) ETFs, which went live the day after their 8A forms were lodged. While he warned that the launch is not yet guaranteed, he said that “all boxes are being checked” and advised investors to “stay tuned” for an announcement.
Crypto journalist Eleanor Terrett also added that Canary’s filing represents the final step before the ETF becomes effective at 5:30 p.m. ET on Wednesday, pending Nasdaq certification of the listing. If approved, the first spot XRP ETF would be cleared for trading at Thursday’s market open, which will be a major milestone for the asset and its growing investor base.
Unlike previous XRP-related investment products, Canary’s ETF was filed under the Securities Act of 1933, allowing it to hold XRP directly rather than investing in offshore entities that own the token.
The launch comes amid renewed optimism across the XRP community, particularly as the recent US government shutdown nears resolution, clearing a backlog of pending ETF applications. Several other firms — including 21Shares, ProShares, Bitwise, Volatility Shares, REX-Osprey, CoinShares, Amplify, and Franklin Templeton — also have spot XRP ETFs listed with the Depository Trust and Clearing Corporation (DTCC), which certainly suggests that a very competitive market could soon form.
Investor anticipation already fueled a rally in XRP’s price, which jumped roughly 7% over the past week to reach $2.40. If Canary’s fund goes live as expected, it will be a historic moment for XRP that could potentially cement the token’s place alongside Bitcoin and Ethereum in the expanding lineup of US-listed spot crypto ETFs.
XRP’s price action over the past week (Source: CoinMarketCap)
John Deaton Launches 2026 Senate Bid
In other Ripple-related news, well known lawyer and advocate for XRP holders John Deaton is making another bid for a seat in the US Senate. After losing to Senator Elizabeth Warren in the 2024 election, Deaton announced on Monday that he will once again run as a Republican—this time challenging Democratic Senator Ed Markey in Massachusetts’s 2026 race. At an event in Worcester, Massachusetts, Deaton even declared, “I’m winning this time.”
Deaton rose to prominence in the crypto community for his defense of XRP holders during Ripple Labs’ high-profile legal battle with the SEC. His outspoken support for digital assets and criticism of regulatory overreach earned him a lot of backing from crypto enthusiasts nationwide.
Although his 2026 campaign announcement did not explicitly center on cryptocurrency policy, Deaton’s record suggests that he will remain a pro-crypto voice in the race. In his previous campaign, he received over $360,000 in contributions from executives at major crypto firms like Ripple, Gemini, and Kraken.
The 2026 Senate race is already shaping up to be quite competitive. Alongside Markey, who will turn 80 next year, Democratic Representative Seth Moulton also entered the race. Markey has been a vocal critic of the crypto industry, and opposed the GENIUS stablecoin bill. He is also known for condemning the environmental impact of crypto mining.
Meanwhile, pro-crypto advocacy group Stand With Crypto already expressed enthusiasm about Deaton’s return to the campaign trail, with community director Mason Lynaugh saying that Deaton “will have his own voters he’s going to cultivate that are very excited to see someone like him saying these types of things publicly.”
While Massachusetts is a challenging battleground for Republicans, Deaton’s mix of populist energy and crypto advocacy could make him a standout contender in the race.
