TLDR
- Canary Capital pushes spot XRP ETF, aiming to bring Ripple into Wall Street.
- Revised S-1 shows Canary’s XRP ETF will hold tokens directly, not futures.
- SEC delays XRP ETF rulings, but industry optimism and filings surge ahead.
- Ripple wins legal momentum as Canary leads push for U.S. spot XRP ETF.
- XRP ETF bids gain traction, mirroring Bitcoin/Ethereum fund frameworks.
The XRP ETF proposal from Canary Capital marks a strategic shift in U.S. crypto investment options. The revised S-1 filing with the SEC lays out plans for a spot ETF directly holding XRP, not derivatives. This fund aims to bring Ripple’s native token into mainstream financial access via traditional exchanges.
Canary Capital Advances Spot XRP ETF Strategy
Canary Capital structured its proposed XRP ETF as a Delaware statutory trust, aiming to track XRP’s market performance. The ETF would benchmark the CoinDesk XRP CCIXber 60m New York Rate, ensuring transparency in price tracking. It plans to custody the XRP through a regulated trust company.
XRP ETF holds the actual digital asset, simplifying access for those using brokerage platforms. It eliminates the need to engage with crypto wallets or navigate digital exchanges. The fund, if approved, will trade on the Cboe BZX Exchange, mirroring the infrastructure of existing Bitcoin spot ETFs.
This move aligns with the broader goal of offering a familiar route to access crypto exposure. The direct holding structure also increases transparency compared to synthetic or derivative-based funds. The updated registration comes as part of Canary Capital’s response to regulatory expectations and investor demand.
SEC Feedback Drives Industry-Wide XRP ETF Amendments
Canary Capital and asset managers such as Grayscale, Bitwise, CoinShares, 21Shares, Franklin Templeton, and WisdomTree also updated their XRP ETF filings. The SEC’s recent feedback reportedly shaped these amended S-1 forms. Each filing adjusts structural components, such as allowing both cash and in-kind creations and redemptions.
This pattern of revisions signals a coordinated industry push toward securing SEC approval for XRP ETFs. Analysts note that these adjustments mirror the successful frameworks used in approved Bitcoin and Ethereum ETFs. Therefore, the updated structures could streamline the approval process ahead.
The SEC recently delayed rulings on several XRP ETF applications, extending decision deadlines into October. Canary Capital’s latest action suggests confidence despite the delay. The firm joins others in positioning XRP for broader access through U.S. markets.
Legal Momentum and Market Outlook Shape XRP’s ETF Path
Recent legal outcomes have strengthened optimism surrounding Ripple’s native token. A U.S. appeals court dismissed parts of the SEC’s lawsuit, improving XRP’s regulatory standing. This shift has contributed to renewed market enthusiasm.
XRP prices climbed sharply following the updated ETF filings and the broader market rebound. Additionally, the Digital Asset Market Clarity Act, which is under Senate review, could influence future oversight. If passed, the bill may split crypto regulation between the SEC and CFTC, enabling clearer rules for products like the XRP ETF.
Canary Capital’s XRP ETF filing reflects growing confidence in the token’s future within traditional finance. This latest move contributes to shaping the asset’s role in regulated investment products. The SEC’s response in the coming weeks will likely define the next stage of XRP’s integration into Wall Street.
