Canary Capital, a newly established cryptocurrency investment firm founded by Steven McClurg, the creator of Valkyrie Funds, has officially submitted an S-1 form with the Securities and Exchange Commission (SEC) to launch an XRP exchange-traded fund (ETF).
In a statement to Fox Business, a spokesperson for Canary Capital expressed optimism about the potential for XRP ETF approval, citing the increasing demand from investors for exposure to cryptocurrencies beyond Bitcoin and Ethereum. The firm highlighted XRP’s role as a foundational asset in the blockchain ecosystem, particularly for enterprise-grade solutions.
Nate Geraci, President of The ETF Store, echoed this sentiment, suggesting that the approval of an XRP ETF is inevitable. However, he cautioned that the timeline for approval could be significantly delayed unless there is a change in the current administration.
