As a seasoned analyst with over two decades of experience in the financial markets, I must admit that the recent move by Canary Capital to file for a spot XRP ETF product in the United States is nothing short of intriguing. Having witnessed the rise and fall of numerous investment trends, I find myself increasingly captivated by the growing sentiment towards cryptocurrencies, particularly XRP.
Canary Capital, a company specializing in cryptocurrency investments, has taken a daring step by submitting an application for a XRP-focused ETF product within the U.S. The proposed product goes by the name Canary XRP ETF, as outlined in a registration statement (S-1) filed with the Securities and Exchange Commission (SEC).
Growing Positive Sentiment About XRP ETF
In the U.S., Bitwise led the way by initiating an application for an XRP Exchange-Traded Fund (ETF). The fact that Canary Capital has also submitted a comparable application now suggests increasing optimism about the potential success and bright prospects of XRP.
According to the company’s filing, they mentioned experiencing indications of a continually favorable regulatory climate combined with an increasing investor interest in advanced ways to access cryptocurrencies other than Bitcoin and Ethereum.
The Exchange-Traded Fund (ETF) being proposed follows the fluctuations in the prices of the base cryptocurrencies, pending approval from the U.S. Securities and Exchange Commission (SEC).
This is a breaking news, please check back for updates!!!
Read More
- USD ZAR PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- CKB PREDICTION. CKB cryptocurrency
- EUR ILS PREDICTION
- SEILOR PREDICTION. SEILOR cryptocurrency
- AE PREDICTION. AE cryptocurrency
- BLACK PREDICTION. BLACK cryptocurrency
- MENDI PREDICTION. MENDI cryptocurrency
- SSE PREDICTION. SSE cryptocurrency
- RIDE PREDICTION. RIDE cryptocurrency
2024-10-09 00:17