Cryptocurrency investment firm Canary Capital has filed a registration statement with the U.S. Securities and Exchange Commission. 
XRP
-1.10%
The Canary XRP ETF provides investors with “the opportunity to access the . name Filed on Tuesday. A custodian or manager for the ETF has not yet been appointed.
“We are seeing encouraging signs of a more progressive regulatory environment, along with growing investor demand for sophisticated approaches to cryptocurrencies beyond Bitcoin and Ethereum, especially enterprise-grade blockchain solutions and native tokens like XRP,” Canary said. “These are investors who want access,” he said. Capital founder Steven McClurg said in a statement:
McClurg also previously founded Valkyrie Funds, which holds other spot cryptocurrency ETFs.
Here’s Canary Capital’s move: By bit I filed my S-1 registration statement last week. A spot XRP ETF has never been approved by the SEC before and could face problems if it does. The SEC is embroiled in a legal battle with Ripple after accusing it of raising $1.3 billion through the sale of XRP, which is considered an unregistered security.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. Previously, Sarah was a reporter covering securities regulation at CQ Legal, where she first began reporting on cryptocurrencies. Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and is an avid coffee lover. You can follow her on Twitter @ForTheWynn.