According to the source, a claim circulated that Nasdaq issued an official listing notice for a spot XRP ETF on Nov 12, 2025. source: social media post Before any spot XRP ETF can trade, the SEC must approve a 19b-4 exchange rule change for the listing venue and declare the fund’s registration statement effective. source: U.S. SEC Exchange Act Section 19b and SEC registration guidance Traders should independently confirm by checking SEC EDGAR for an approved 19b-4 order and an effective S-1 or 485BPOS, and by verifying a Nasdaq Trader official listing notice that specifies ticker, CUSIP and effective date. source: SEC EDGAR and Nasdaq Trader listing notices If confirmation appears on SEC EDGAR and Nasdaq Trader, expect ETF primary market flows to influence XRP liquidity via creation and redemption arbitrage, which can widen or tighten the spot derivatives basis around U.S. market open. source: SEC Investor Bulletin on ETFs and standard ETF arbitrage mechanics

According to @EricBalchunas, Nasdaq has issued an official listing notice for ticker XRPC with the launch scheduled for tomorrow, shared in his Nov 12, 2025 post; source: Eric Balchunas on X. Nasdaq listing notices formally confirm the first trading date and initiate opening auction procedures that define when order entry and price discovery begin; source: Nasdaq listing guidelines. The post did not include additional details such as indicative values, market maker information, or fee schedule; source: Eric Balchunas on X.