Investment Firm Canary Capital Files Application for an XRP ETF

The Canary Capital Group LLC has officially requested registration with the US Securities and Exchange Commission (SEC) for its proposed Canary XRP ETF.

This ETF is designed to provide investors with exposure to XRP, the digital asset utilized on the XRP Ledger, through traditional brokerage platforms.

The goal of the ETF is to make it easier for investors to access XRP without directly holding the asset, while also managing operational costs and liabilities.

The ETF will use the CME CF Ripple-Dollar Reference Rate – New York Variant as its pricing benchmark, which aggregates data from major XRP trading venues.

Canary, a new player in the crypto investment space led by Steven Mcclurg, founder of Valkyrie Funds, believes that the increasing demand for access to cryptocurrencies and their native tokens, such as XRP, coupled with a more progressive regulatory environment, makes this the perfect time to launch the Canary XRP ETF.