Canary Capital Group has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) for an XRP Exchange-Traded Fund (ETF), following a similar filing by Bitwise. This move comes amid an evolving crypto investment landscape, yet the market outlook remains pessimistic. Regulatory scrutiny continues to intensify globally, casting a shadow over the potential approval and success of such financial products. The increasing regulatory pressure may hinder the growth and adoption of crypto ETFs, raising concerns about the future stability and viability of the cryptocurrency market.