Canary Capital Files Spot XRP ETF With US SEC

Cryptocurrency investment firm Canary Capital has filed an application for registration of a spot XRP exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), becoming the second company to apply for such a product this month. Founder Steven McClurg said the company sees a more progressive regulatory environment as demand for blockchain solutions grows. The ETF will provide investors with access to the XRP market through a traditional brokerage account, avoiding the potential risks of holding XRP directly. A custodian for the ETF has not yet been identified.