Canary Capital XRP ETF Filing Points To Potential Launch

Canary Capital has submitted a regulatory filing that could lead to the launch of an XRP exchange-traded fund (ETF) as early as this week. The company filed an 8-A form on Monday, a necessary step for registering securities with the U.S. Securities and Exchange Commission (SEC). The Canary XRP ETF would track the spot price of XRP, the fourth-largest digital asset by market capitalization.

Bloomberg Senior ETF Analyst Eric Balchunas indicated a potential launch on Tuesday, stating, “Canary filed 8A for XRP ETF last night, which points to launch tomorrow or Thursday (today is holiday).” He added that while not finalized, “all boxes are being checked.”

The potential ETF would be the second XRP-focused fund available to U.S. investors, following the September debut of the Rex-Osprey XRP ETF (XRPR). XRPR generated $38 million on its first trading day and now manages over $138 million in assets.

According to etf.com Senior Analyst Sumit Roy, Canary Capital’s fund has the potential to attract significant investment due to strong investor interest in XRP and other altcoin ETFs. The recent success of Bitwise’s Solana ETF, which rapidly became a $500 million fund, demonstrates demand for funds beyond Bitcoin and Ethereum.

Rex-Osprey’s XRPR provides exposure to XRP through a subsidiary registered in the Cayman Islands.

The filing follows the success of Bitcoin and Ethereum ETFs, which debuted last year and now manage approximately $139 billion and $21 billion, respectively. The SEC is currently reviewing over 90 fund applications focused on single cryptocurrencies and various investment strategies.

As of Tuesday, XRP was trading at $2.40, a 6% decrease over the past 6. 24 hours. This price is over 30% below XRP’s July high of $3.65.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.