Canary Capital Files S-1 for Spot XRP ETF with SEC

Oct 8, 2024, 08:58 PM

Canary Capital has officially filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for a spot exchange-traded fund (ETF) based on XRP. This filing marks the second such application, joining Bitwise in the race to launch an ETF tracking XRP, the seventh-largest digital token. Canary Capital, a new crypto investment firm founded by Steven McClurg of ValkyrieFunds, aims to capitalize on what it sees as a more progressive regulatory environment. The filing, identified as 0002039505, is seen as a significant step in the growing interest and acceptance of cryptocurrency-based financial products.