In a letter published on the SEC’s website and dated November 21, the World Federation of Exchanges (WFE), whose members include Nasdaq and Deutsche Boerse, stated that the regulator must avoid allowing crypto companies to “bypass regulatory principles that have safeguarded markets for decades.” WFE chief executive Nandini Sukumar stated that exempting unregistered crypto firms would risk allowing products that look like equities to be offered without the protections that accompany real stock ownership. The body representing exchanges voicing its concerns comes as the SEC considers whether to issue a form of “innovation exemption” that would allow crypto companies to offer blockchain-based tokens representing exposure to listed stocks, instruments that would be sold to US retail investors without the platforms registering as broker-dealers. This proposal, which is supported by several crypto platforms, is being considered by SEC chair Paul Atkins, highlighting the agency’s recalibrated approach to digital assets under the Trump administration. The tokenization debate divides traditional and crypto finance This is not the first time the WFE has raised concerns about tokenized equities. In August, it wrote to regulators in the U. S., Europe, and Asia, urging a crackdown on unlicensed platforms offering tokenized stocks, warning of investor-protection issues and reputational risks for listed companies whose names are used without consent. It went further to ask that regulators apply the same rules used on securities to tokenized assets. Despite the body’s concerns, interest in tokenization continues to grow across the financial sector. Large banks, asset managers, and trading venues have begun exploring blockchain-based settlement and token-form assets as part of efforts to modernize financial infrastructure. The trend has gained more traction this year as crypto-native platforms seek direct access to the US equities market, while traditional exchanges experiment with on-chain settlement models. Nasdaq’s push for regulated tokenized securities. Nasdaq, one of the WFE’s most prominent members, has simultaneously been pushing for a regulated path toward tokenization. In September, it submitted a formal rule-change proposal that would allow the exchange to list and trade stocks in tokenized form, assigning the digital instruments the same regulatory treatment, including rights and CUSIP identification, as conventional shares. However, Ondo Finance, a blockchain startup offering financial market solutions, called for delays until Nasdaq provides further details on how trades in tokenized form would be processed through the Depository Trust Company, which operates the core plumbing of US securities settlement. Within the WFE itself, members acknowledge tokenization’s potential. The letter describes blockchain-based equity instruments as a “natural evolution in capital markets.” However, many exchanges argue that innovation must occur within the existing regulatory framework rather than through exemptions granted to unlicensed crypto platforms. James Auliffe, head of the WFE’s technology working group, said equity markets are already “very, very efficient,” and that proponents of moving trading onto blockchains still need to prove the benefits outweigh the costs. High stakes for regulators and markets The SEC’s decision on the matter will shape the future of how equities are traded and accessed in the US. Allowing tokenized stocks to be offered without conventional broker-dealer oversight could potentially enable firms outside the traditional financial system to compete directly with exchanges and brokers that face far stricter compliance obligations. Investor advocates fear that retail traders may not understand the difference between owning a token linked to a stock and holding the real equity itself. Earlier this year, companies including OpenAI warned that tokenized versions of their shares circulating on trading apps did not represent actual ownership. Join Bybit now and claim a $50 bonus in minutes.
https://bitcoinethereumnews.com/crypto/us-nasdaq-germanys-deutsche-boerse-lead-lobby-against-relaxed-sec-crypto-regulation/
Tag: nasdaq
XRP Spot ETF Lists On Nasdaq Today Under Ticker XRPC
**XRPC Spot ETF Launches After Nasdaq Certification: Trading Begins Today**
XRPC becomes effective at 5:30 p.m. ET after Nasdaq certification, with trading set to begin today. Recent EDGAR filings reveal the S-1/A filing path and 8-A registration required for the Nasdaq listing. In related news, Canary Funds has added a spot MOG ETF filing, expanding its single-asset digital fund lineup.
**XRPC Becomes First Single-Asset XRP Spot ETF**
The first-ever single-asset XRP spot ETF is scheduled to begin trading after Canary Funds confirmed its effectiveness at 5:30 p.m. ET on Wednesday. Financial journalist Eleanor Terrett reported that Nasdaq certification has cleared XRPC for launch at the U.S. market open on November 13, providing traders with a clear timeline and trading venue.
According to Terrett, the outcome was made possible through actions taken by SEC officials, including Commissioner Hester Peirce and former Commissioner Paul Atkins, both cited in statements regarding the ETF approval process. The newly approved XRPC ETF followed the standard pathway: S-1/A amendments, Nasdaq certification, and Form 8-A 12(b) effectiveness—removing the final administrative barrier to listing. The documented process sets clear expectations for market participants seeking trading access.
**Nasdaq Confirms Filing and Approval Process**
Nasdaq has verified receipt of the Form 8-A 12(b) filing for XRPC, confirming the listing certification, which aligns all paperwork for the November 13 launch once the notice of issuance is posted. The certification and effectiveness sequence closes the administrative gate before the ETF enters the market for first trade.
A letter from the exchange detailed that Nasdaq had approved XRPC for listing and would proceed with registration upon receipt of official notice of issuance. The exchange also indicated support for the issuer’s request for effectiveness under Form 8-A 12(b), paving the way for the ETF’s debut. With certification finalized, Canary Funds has confirmed that XRPC will launch at the market open on November 13, concluding a comprehensive series of steps that involved regulatory coordination, exchange review, and formal registration requirements.
**Canary Extends Product Pipeline With Spot MOG ETF**
Separately, Canary Funds has filed for a spot ETF tied to MOG Coin, marking the first time this meme-based digital asset will be offered within a regulated investment structure. According to the preliminary prospectus, the “Canary MOG ETF” will operate as a trust issuing shares of beneficial interest to be traded on a registered exchange. The fund will hold MOG coins directly to closely track their market price.
ETF analyst James Seyffart publicly highlighted the new submission, noting it as part of Canary’s expanding digital-asset ETF offerings. The sponsor for the MOG trust is Canary Capital Group LLC, which also launched an HBAR-focused ETF earlier this year.
**Related:**
*XRP Price Stays Rangebound as Canary XRP ETF Launch Enters 48-Hour Countdown*
https://bitcoinethereumnews.com/tech/xrp-spot-etf-lists-on-nasdaq-today-under-ticker-xrpc/
First Ever XRP Spot ETF Gets Approval, Here is Timeline to Launch
**Spot XRP ETFs Set to Begin Trading in the US as Canary Capital Clears Final Regulatory Step**
*Written By: TheCryptoBasic*
The long-awaited spot XRP ETFs are set to begin trading in the United States after the issuer completed the final regulatory step required for its exchange listing. Canary Capital has filed a Form 8-A for its spot XRP ETF, which will become effective once approved by Nasdaq.
This latest filing comes weeks after the asset manager amended its S-1 application by removing the “delay” clause, which typically prevents the fund from launching without approval from the SEC’s Division of Corporation Finance.
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### Launch Timeline for Canary Capital XRP ETF
Yesterday, Canary filed a Form 8-A application for its spot XRP ETF, marking a crucial step toward bringing the fund to market. According to crypto journalist Eleanor Terrett, this filing is the final step before the ETF becomes effective. It paves the way for its shares to be listed on Nasdaq.
Terrett noted that Canary’s spot XRP ETF will become effective today at 5:30 p.m. (ET), once Nasdaq certifies and approves the Form 8-A application. Following that approval, the XRP spot ETF is expected to begin trading when U.S. markets open on Thursday, November 14, 2025.
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### Is Canary XRP ETF the First of Its Kind?
Terrett’s remarks have sparked widespread excitement among XRP enthusiasts eager for the launch of what she described as the first spot XRP ETF. However, popular ETP provider REX Shares quickly clarified that the upcoming Canary product is **not** the first of its kind in the United States.
It is worth mentioning that the REX RP ETF was launched under the Investment Company Act of 1940. The REX-Osprey fund provides only partial spot exposure to XRP and employs a less efficient tax structure.
While XRPR does hold XRP, its prospectus indicates that it invests in a mix of crypto-related ETFs, U.S. Treasuries, and money market funds, making it quite different in composition from the Canary fund.
In contrast, Terrett emphasized that the upcoming Canary fund is the first **pure-play XRP ETF** structured under the 1933 Securities Act. The pro-crypto journalist confirmed that the Canary XRP ETF will provide 100% exposure to XRP, with no other assets included.
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**Disclaimer:**
This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s official position. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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### About the Author
**Lele Jima** is a cryptocurrency enthusiast and journalist focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related topics, Jima is a lover of sports and music.
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Stay tuned for more updates on cryptocurrency ETF launches and market analysis.
https://thecryptobasic.com/2025/11/12/first-ever-xrp-spot-etf-gets-approval-here-is-timeline-to-launch/