Canary Capital Files for an XRP ETF with SEC
Canary Capital Group LLC has taken the necessary steps to register a proposed XRP ETF with the US Securities and Exchange Commission (SEC).
This ETF, called Canary XRP ETF, is designed to give investors exposure to XRP, a digital asset built on the XRP Ledger, without the need to directly hold XRP. The ETF aims to make access to XRP easier for investors through traditional brokerage platforms.
In the SEC filing, Canary Capital Group explained that the Canary XRP ETF will function as an exchange-traded product (ETP) with shares that track the value of XRP.
The trust’s main objective is to provide investors with exposure to the value of XRP while managing costs and liabilities.
The fund will utilize the CME CF Ripple-Dollar Reference Rate – New York Variant, which collects data from major XRP trading venues, to determine its pricing benchmark.
