Canary Capital Files S-1 for Spot XRP ETF with SEC on October 9, Following Bitwise's October 2 Application

Oct 8, 2024, 11:12 PM

Canary Capital has officially filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a spot XRP exchange-traded fund (ETF), becoming the second firm to do so this month, following Bitwise's filing on October 2. The filing, submitted using Form S-1, aims to provide investors with easier access to XRP, the seventh-largest digital token, through traditional brokerage accounts. This move comes amid a growing interest in cryptocurrency ETFs, particularly after Ripple's recent legal victories, which have encouraged a more favorable regulatory environment. Canary Capital is a new crypto investment firm founded by Steven McClurg, previously associated with Valkyrie Funds. The filing indicates a significant shift in Wall Street's approach to digital assets, as major players rush to launch spot ETFs for XRP.