The exchange-traded fund (ETF) proposals for XRP and Hedera by Canary Capital Group have been officially listed on the DTCC registry. This development brings them closer to potential approval, though simply being listed on the DTCC platform does not guarantee SEC approval.
ETF Addition to the DTCC Platform
The new ETF proposals for XRP and Hedera are now available on the Depository Trust & Clearing Corporation (DTCC) website. This represents an important step in the application process that does not assure approval from the U.S. Securities and Exchange Commission (SEC). However, according to Nate Geraci, president of NovaDius Wealth Management, it is a step towards future ETF launches.
SEC Decision Delays
Since the beginning of the year, the SEC has been postponing decisions on several ETF proposals, including the XRP ETF. The SEC requires more time to review without providing clarity. For instance, the decision regarding Canary's XRP ETF has been delayed to a window between October 18 and 23. Bloomberg analysts suggest a high probability of approval for both XRP and Solana ETFs, while the chance for Hedera is set at 90%.
Future Expectations for Canary ETFs
With the addition of the ETFs to the DTCC platform, the industry eagerly awaits the SEC's final decisions. While this represents a significant step in the process, SEC approval remains essential for the formal launch of these ETFs. Market participants will closely follow SEC activities in the coming weeks.
The listing of Canary's ETFs on the DTCC platform is a key milestone towards potential SEC approval. However, the regulator's final decisions will be crucial for the future of these funds.
