In a move that has caught the attention of the cryptocurrency market, Canary Capital, a crypto investment firm, has officially filed an application with the U.S. Securities and Exchange Commission (SEC) for a spot XRP exchange-traded fund (ETF). This filing comes just a week after Bitwise made headlines with its own similar proposal, further intensifying competition in the rapidly evolving ETF space.
If approved, Canary Capital’s spot XRP ETF would offer investors direct exposure to XRP, one of the largest cryptocurrencies by market capitalization, without the need to hold the digital asset directly. This move could be a game-changer for both institutional and retail investors looking to gain regulated access to XRP.
