Canary Capital has amended its S-1 registration for the proposed XRP ETF, which could enhance the prospects for SEC approval.
Amended S-1 Filing for XRP ETF
Canary Capital has submitted an amended S-1 registration for its proposed XRP ETF aiming to provide direct exposure to XRP. This comes amid optimism regarding SEC approval.
Expectations on SEC Approval
The amended filings, along with similar submissions from major asset managers, indicate growing institutional demand and could influence XRP's market dynamics. Analysts note that these updates likely reflect feedback from the SEC. The overall expectation is to enable investors to access directly without derivatives.
Market Impact on XRP
XRP price surged approximately 10% following the filing news. Investors anticipate that ETF approval could result in significant capital inflows into the market. Past precedents of spot Bitcoin ETF launches have shown that this can lead to increased institutional inflows and market legitimacy, a similar effect is expected for XRP.
The updates to the S-1 registration for the XRP ETF by Canary Capital reflect increasing interest from institutional investors and enhance the chances of SEC approval, potentially impacting the XRP market.
