What to Know:
- Bloomberg’s ETF expert suggests Canary Capital’s spot XRP ETF could launch very soon.
- Canary Capital has taken steps to expedite the approval process with the SEC.
- Several other issuers, including Franklin Templeton, are also preparing to launch spot XRP ETFs.
The potential launch of a spot XRP exchange-traded fund (ETF) by Canary Capital could be imminent, according to Bloomberg ETF analyst Eric Balchunas. This development follows Canary Capital’s proactive filings with the SEC, signaling a push for rapid approval. The introduction of an XRP ETF could mark a significant step forward for the cryptocurrency market.
Canary Capital recently filed a Form 8-A with the SEC, a crucial step for listing the ETF shares on a securities exchange. The firm also removed a “delaying amendment” from its S-1 filing, streamlining the path to automatic approval. These actions indicate a strong intent to bring the XRP ETF to market as quickly as possible.
The SEC has acknowledged the filing submitted by the Cboe BZX Exchange on behalf of Canary Capital. This acknowledgment, coupled with the proactive measures taken by Canary, suggests a potentially constructive dialogue with regulators. A successful launch could pave the way for broader acceptance of XRP among institutional investors.
Several other major players, including Franklin Templeton, are also preparing to launch spot XRP ETFs. This growing interest underscores the increasing demand for regulated investment vehicles in the digital asset space. The potential influx of capital into XRP through ETFs could have significant implications for its market dynamics.
The anticipated launch of spot XRP ETFs represents a pivotal moment for both XRP and the broader cryptocurrency market. As regulatory frameworks evolve and institutional interest grows, these financial products could play a crucial role in bridging the gap between traditional finance and digital assets.
Source: Original article
