Canary Capital joins the XRP ETF race with US SEC filing

Canary Capital, a crypto funding agency, has filed the spot XRP ETF (Alternate Traded Fund) in the US, following the profitable launch of Bitcoin and Ethereum ETFs. The corporate known as this crypto product the “Canary XRP ETF” whereas submitting Type S-1 with the US Securities and Alternate Fee (SEC).

Canary XRP ETF Gives

In Form S-1the corporate said that the Canary XRP ETF provides buyers the chance to entry XRP via a conventional brokerage account. The corporate famous: “The Belief provides buyers the chance to entry the marketplace for XRP via a conventional funding account, with out the potential obstacles to entry or dangers related to straight buying and holding XRP.”

On October 9, 2024, Bloomberg ETF skilled Eric Balchunas posted on X (previously Twitter) confirming that Canary XRP ETF is the second submitting to hitch Bitwise. Nevertheless, Eric’s put up shortly went viral and acquired large consideration from crypto lovers.

One other facet of the Canary XRP ETF that’s getting a number of consideration from crypto lovers is its founder, Steven McClurg. Steven is the previous CIO and co-founder of Valkyrie Fund, which presently provides Bitcoin and Ethereum ETF in the US.

Steven McClurg’s imaginative and prescient

Nevertheless, Steven not too long ago made an announcement: “We’re seeing encouraging indicators of a extra progressive regulatory atmosphere, coupled with rising investor demand for superior entry to cryptocurrencies past Bitcoin and Ethereum. tokens like XRP.”

XRP Present Worth Momentum

Regardless of this essential growth, the value of XRP stays unchanged. On the time of writing, it’s buying and selling close to $0.529 and has skilled a modest value decline of 0.53% over the previous 24 hours. Throughout the identical interval, XRP buying and selling quantity fell 23%, indicating a scarcity of investor and dealer participation amid ongoing value consolidation.