Ripple (XRP) is acquiring another XRP ETF. Canary, a major cryptocurrency investment company, wants to offer another Ripple ETF in this domain and has filed an application with the US SEC for the S-1 XRP ETF.
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Another XRP ETF filed
Canary, known as a major cryptocurrency investment fund, has applied for the S-1 XRP ETF. The announcement comes days after Bitwise, another prominent financial giant, announced plans to introduce XRP ETFs to investors.
Canary’s application includes specific details about how the ETF process will work. The company shared more details, adding how the ETF will provide access to XRP via “traditional brokerage accounts” as mentioned above.
“An opportunity to access the XRP market through a traditional brokerage account without the potential barriers to entry and risks associated with directly acquiring and holding XRP,” the company shared in its S-1 filing.
Canary Capital founder Steven McLurg has also been known to comment on his company’s plans to introduce an XRP ETF. He shared how he is observing encouraging signs that investors are keen to explore more nuanced coins like XRP and Bitcoin as ETFs.
“Coupled with growing demand from investors seeking advanced access to cryptocurrencies beyond Bitcoin and Ethereum, especially those seeking access to enterprise-grade blockchain solutions and native tokens such as XRP, There are encouraging signs for the regulatory environment.”
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Ripple CEO reacts to Canary ETF news
As news of Canary launching a Ripple ETF spreads across various circuits, Ripple CEO Brad Garlinghouse took X to share his enthusiasm.
He posted the “It’s Happening Again” meme on X as a positive response to the XRP ETF application.
However, the XRP ETF blooming news has not yet helped XRP make big price movements. At the time of writing, the token’s nominal price level is $0.53, down 0.12% in the past 24 hours.
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