tl;dr
Canary Capital has filed for a spot XRP ETF product with the US SEC, following Bitwise's similar move. The firm sees a positive regulatory environment and growing demand for sophisticated access to cryptocurrencies. However, uncertainties remain due to the US SEC's appeal in the Ripple lawsuit regar...
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Canary Capital has filed for a spot XRP ETF product with the US SEC, following Bitwise's similar move. The firm sees a positive regulatory environment and growing demand for sophisticated access to cryptocurrencies. However, uncertainties remain due to the US SEC's appeal in the Ripple lawsuit regarding XRP's security status. The ETF product is subject to the US SEC's approval and will track the cryptocurrency's price.
Home / News / Breaking: Canary Capital Files Second XRP ETF In the US
After Bitwise made the first move for XRP ETF in the United States, Canary Capital has submitted the second filing with the SEC By Godfrey Benjamin 2 hours ago
Crypto investment firm Canary Capital has made a bold move by filing for a spot XRP ETF product in the United States. The firm named the product the Canary XRP ETF in the form S-1 registration statement lodged with the Securities and Exchange Commission (SEC).
Bitwise made the first move for XRP ETF in the United States. That Canary Capital made similar filing at this time is a sign of growing confidence in what the future hold for XRP.
The firm said in its registration statement that is is seeing signs of a “progressive regulatory environment coupled with growing demand from investors for sophisticated access to cryptocurrencies beyond Bitcoin and Ethereum.”
According to growing speculations, there is a likelihood that the SEC Appeal in the Ripple lawsuit will impact the chances of an XRP ETF. With Bitcoin and Ethereum gaining the regulator’s approval for spot ETF products, investments firms have maintained positivity that other cryptocurrencies deserve related treatement.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real-life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites.