- Canary Capital files an amended S-1 for XRP ETF.
- An amended filing could boost approval prospects.
- XRP price jumped following the filing news.
Canary Capital has amended its S-1 registration for a proposed XRP ETF with the Cboe BZX Exchange, aiming for direct XRP exposure amid optimism for SEC approval.
The amendments, alongside similar filings from major asset managers, signal increased institutional demand and could potentially impact XRP’s market dynamics with an estimated $8 billion inflow.
Canary Capital has submitted an amended S-1 registration for its proposed XRP ETF. This comes as part of a collective move by several asset managers.
The ETF aims for direct XRP exposure, with trade listings on Cboe BZX Exchange.
The amended filings have increased optimism among investors about regulatory approval. Industry analysts note these updates likely reflect feedback from the SEC.
The decision is aimed at enabling investors to get direct exposure without derivatives, according to observers.
XRP price surged by approximately 10% following news of the filings. Investors anticipate that approval could result in significant market inflows.
Past precedents of spot Bitcoin ETF launches led to increased institutional inflows and market legitimacy. A similar effect is expected for XRP.
“Bunch of XRP ETF filings being updated by issuers today. Almost certainly due to feedback from [the] SEC. Good sign, but also mostly expected.” – James Seyffart, ETF Analyst, Bloomberg
