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9 October

Crypto investment firm Canary Capital has filed a registration statement with the SEC to launch a spot XRP ETF.

It is the second firm this month to pursue such a product.

According to the statement filed Tuesday, the Canary XRP ETF aims to provide investors with a way to enter the XRP market through a brokerage account, without the potential barriers or risks associated with directly acquiring and holding XRP.

At this time, the ETF's custodian or administrator has not been disclosed.

In a statement, founder Steven McClurg said there are signs of a more progressive regulatory climate and growing investor demand for access to cryptocurrencies beyond just Bitcoin and Ethereum.

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