Canary 由 Valkyrie Funds 前联合创始人Steven McClurg创立，该公司在一份声明中表示，受到“监管环境更加进步以及投资者需求不断增长的迹象”的鼓舞。The competition to track the exchange traded fund of the seventh largest digital token XRP has begun.
Golden Finance App has noticed that the competition to track the exchange traded fund of the seventh largest digital token XRP has started.
Canary Capital Group is a new investment company focused on digital assets, established in September. On Tuesday, they submitted the filing to the U.S. Securities and Exchange Commission to launch the Canary XRP ETF. Just a week ago, Bitwise Asset Management Inc. became the first company to apply for an ETF tracking the token.
Canary, founded by Steven McClurg, former co-founder of Valkyrie Funds, stated in a declaration that they were encouraged by signs of a 'more progressive regulatory environment and growing investor demand'.
Previously, eagerly anticipated bitcoin and ethereum ETFs were listed earlier this year, while companies like VanEck Asset Management and 21Shares AG are also seeking to launch funds linked to the Solana token. Since its debut, the bitcoin ETF has attracted nearly $19 billion in funds, while the ethereum ETF has seen outflows of around $0.55 billion.
Canary's filing did not include the trading codes or expected expenses. This will be the company's first ETF.
The XRP document indicates that issuers are urging regulators to open the crypto frenzy to a wider retail audience.
FRNT Financial co-founder and CEO Stephane Ouellette stated: "This indicates that ETF providers will closely monitor the regulatory environment to seek opportunities to launch new products. Whether they will be approved still remains uncertain, but for two companies born in the crypto-native sector, trying to expand their product range makes a lot of sense."
Previously, after years of disputes, a federal judge in August ordered Ripple Labs Inc. to pay a civil fine for selling its XRP tokens to institutional investors without registering with U.S. regulatory authorities.
In September, crypto asset management company Grayscale Investments announced the launch of the Grayscale XRP Trust, aiming to provide investors with exposure to the XRP Ledger token. The XRP Ledger is a distributed peer-to-peer network designed to facilitate cross-border financial transactions.
