Excitement surged at Ripple’s Swell conference in New York as Steven McClurg, CEO of Canary Capital, announced plans to launch the first-ever XRP Exchange-Traded Fund (ETF) next week. If approved, XRP will join Bitcoin and Ethereum as one of the few cryptocurrencies with a U.S. spot ETF — a historic moment for Ripple and the broader crypto industry.

McClurg highlighted that the XRP Ledger (XRPL) is now competing directly with Wall Street’s financial infrastructure. He described it as modern “financial rails” capable of transforming cross-border payments and slashing global remittance fees from as high as 15% to near zero. The move underscores Ripple’s mission to make payments faster and more affordable worldwide.

Canary Capital’s fast-track filing under new SEC rules could see the ETF go live by November 13, even amid potential government delays. With analysts predicting up to $10 billion in inflows, experts say XRP’s entry into the ETF market could redefine crypto investing in 2025.