Ripple Adoption Set To Boom As Canary Files For An XRP ETF

Ripple (XRP) is getting another XRP ETF. Leading crypto investment firm Canary has filed for an S-1 XRP ETF with the US SEC, hoping to deliver another ripple ETF to the domain.

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Another XRP ETF Filed

Canary, dubbed the leading crypto investment fund, has filed for an S-1 XRP ETF. The announcement comes days after Bitwise, another notable financial giant, announced its plan to introduce an XRP ETF to its investors.

The Canary filing application contains specific details regarding how the ETF process will work. The firm shared details, adding how the ETF, as mentioned above, will deliver access to XRP via a “traditional brokerage account.”

“The opportunity to access the market for XRP through a traditional brokerage account without the potential barriers to entry or risks involved with acquiring and holding XRP directly.” The firm shared in its S-1 application

Canary Capital founder Steven McLurg was also noted for commenting on his firm’s plan to introduce an XRP ETF. He shared how he observes encouraging signs that investors are keen to explore nuanced coins like XRP and Bitcoin as ETFs.

“We’re seeing encouraging signs of a more progressive regulatory environment coupled with growing demand from investors for sophisticated access to cryptocurrencies beyond Bitcoin and Ethereum—specifically, investors seeking access to enterprise-grade blockchain solutions and their native tokens such as XRP.”