Express
Canary Capital Joins Race for Spot XRP ETF
Summary: Cryptocurrency investment firm Canary Capital has thrown its hat into the ring, submitting a spot XRP exchange-traded fund (ETF) application to the U.S. Securities and Exchange Commission (SEC). The company, in its S-1 registration statement filed on Tuesday, said the Canary XRP ETF would offer investors a "traditional brokerage account" way to access the XRP ...
Cryptocurrency investment firm Canary Capital has thrown its hat into the ring, submitting a spot XRP exchange-traded fund (ETF) application to the U.S. Securities and Exchange Commission (SEC).
The company, in its S-1 registration statement filed on Tuesday, said the Canary XRP ETF would offer investors a "traditional brokerage account" way to access the XRP market without the risks associated with directly buying and holding the cryptocurrency. However, the custodian or administrator for the ETF has yet to be announced.
Canary Capital's move follows a similar application from Bitwise last week, making it the second company to seek SEC approval for a spot XRP ETF.
The approval of a spot XRP ETF would be a significant milestone for the cryptocurrency market, as the SEC has yet to greenlight any such products.
Tags: Bitwise,Canary Capital,SEC,Spot XRP ETF
Link: Canary Capital Joins Race for Spot XRP ETF [Copy]
