Canary Capital, a crypto investment firm, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for an XRP exchange-traded fund (ETF). The filing follows a similar move by crypto asset manager Bitwise, which filed an S-1 for an XRP spot ETF in January 2023. The proposed Canary Capital XRP ETF will track the performance of the XRP Index, which is designed to measure the value of XRP relative to the U.S. dollar. The ETF will be actively managed, with Canary Capital making investment decisions based on its analysis of the XRP market. The SEC has not yet approved either the Canary Capital or Bitwise XRP ETFs. However, the filings signal growing interest in XRP ETFs among institutional investors. If approved, these ETFs would provide investors with a new way to gain exposure to XRP, the native cryptocurrency of the XRP Ledger.

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