Canary Capital has filed for a spot XRP ETF, following in the footsteps of Bitwise. This is the second filing for an XRP-focused ETF in a week. The goal is to make it easier for investors to access XRP without having to own the cryptocurrency directly. Using the CME CF Ripple Index, Canary Capital provides real-time XRP price tracking 📈.

These filings highlight the growing interest in XRP ETFs. Optimism around XRP adoption in the broader crypto market is growing. Canary Capital believes in progressive regulation, which could attract more investors to tokens like XRP. This also points to a shift in sentiment among investment firms.

A key challenge for Canary Capital is SEC approval. The SEC has been wary of crypto products, especially given their lawsuit against Ripple. Despite the uncertainties, Canary Capital is confident in its filing, offering a safe way to invest in XRP without trading directly.

The timing of Canary Capital’s application after Bitwise shows a strategic move to tap into growing demand for crypto ETFs. It could attract investors looking for security and simplicity. The SEC’s decision could set a precedent for future applications. If approved, it would be the first XRP spot fund approved by the regulator.