Canary Funds is preparing for an automatic launch of its XRP Spot ETF, contingent upon NASDAQ’s approval. The firm aims to initiate trading as early as November 13th if granted the necessary clearance. This move aligns with SEC Chair Paul Atkins’ support for automated launch processes, aimed at streamlining market efficiency by minimizing delays in introducing new financial products. Canary Funds has filed an updated S-1 registration for the ETF on October 2023, setting November 13th as a potential launch date. The anticipated launch could significantly impact the XRP market and potentially lead to increased liquidity and interest in XRP. The move follows previous successful launches of Solana and Hedera ETFs using similar statutory mechanisms. SEC Chair Paul Atkins has voiced his support for this process, stating that he believes it can bring new financial products to market efficiently, particularly when administrative delays pose risks to capital markets.