Crypto investment firm Canary Capital has made a bold move by filing for a spot XRP ETF product in the United States. The firm named the product the Canary XRP ETF in the form S-1 registration statement lodged with the Securities and Exchange Commission (SEC).
Growing Positive Sentiment About XRP ETF
Bitwise made the first move for XRP ETF in the United States. That Canary Capital made similar filing at this time is a sign of growing confidence in what the future hold for XRP.
The firm said in its registration statement that is is seeing signs of a “progressive regulatory environment coupled with growing demand from investors for sophisticated access to cryptocurrencies beyond Bitcoin and Ethereum.”
The ETF product will track the price of the underlying cryptocurrencies and is subject to the US SEC’s approval.
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Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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