SEC Acknowledges Canary Capital’s Spot XRP ETF Application

The US Securities and Exchange Commission (SEC) yesterday recognized a filing from Cboe BZX Exchange on behalf of Canary Capital for a spot XRP ETF.

In doing so, the SEC requested that comments be submitted within 21 days of the filing’s publication in the Federal Register. Following this period, the SEC will decide whether to approve, disapprove, or “institute proceedings” regarding the proposal.

The 19b-4 filing marks the second phase in the two-step process for proposing a crypto ETF to the SEC. Once acknowledged, the filing gets published in the Federal Register, initiating the formal approval process by the agency.