NASHVILLE / LONDON (IT BOLTWISE) – The launch of a new XRP ETF by Canary Capital is imminent. After filing a Form 8-A with the U.S. Securities and Exchange Commission, the ETF could begin trading on Nasdaq as early as this week. This would be the second ETF of its kind in the US, following the successful launch of the Rex-Osprey XRP ETF in September.
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The world of cryptocurrencies is witnessing another milestone as Canary Capital plans to list its XRP ETF on Nasdaq. This development follows the filing of a Form 8-A with the US Securities and Exchange Commission (SEC), which is a necessary step for securities registration. The ETF will track the spot price of XRP, the fourth-largest cryptocurrency by market capitalization.
Eric Balchunas, a senior ETF analyst at Bloomberg, commented on Platform X that the Form 8-A filing suggests an imminent launch of the ETF. Although not everything is dry yet, all the necessary steps to launch the ETF appear to have been completed. This would be the second ETF in the US focused on XRP, following the successful launch of the Rex-Osprey XRP ETF in September.
The Rex-Osprey ETF exceeded expectations in its debut, raising $38 million on its first day. He now manages over $138 million in assets. Experts like Sumit Roy of etf.com also see great potential for the Canary ETF to generate significant capital inflows as investor interest in XRP and other altcoin ETFs is strong.
The success of Bitcoin and Ethereum ETFs has paved the way for more cryptocurrency-based funds. These ETFs now manage billions in assets and have increased interest in additional crypto investment opportunities. The SEC is currently reviewing over 90 funds based on individual cryptocurrencies or combinations of tokens. The current XRP price is $2.40 per coin, down 6% in 24 hours.
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