<p>Canary Capital, a crypto investment firm has filed the spot XRP ETF (Exchange Traded Fund) in the United States, following the successful launch of Bitcoin and Ethereum ETFs. The firm named this crypto product the “Canary XRP ETF” while submitting Form S-1 to the US Securities and Exchange Commission (SEC).</p>  
<h2 class="wp-block-heading" id="h-canary-xrp-etf-offers"><strong>Canary XRP ETF Offers</strong></h2>  
<p>In <a href="https://www.sec.gov/Archives/edgar/data/2039505/000199937124013130/canaryxrp-s1_100824.htm" target="_blank" rel="noopener noreferrer nofollow">Form S-1</a>, the firm stated that the Canary XRP ETF provides investors with an opportunity to access XRP using a traditional brokerage account. The firm noted, “The Trust provides investors with the opportunity to access the market for XRP through a traditional brokerage account without the potential barriers to entry or risks involved with acquiring and holding XRP directly.”</p>  
<p>On October 9, 2024, Bloomberg ETF expert Eric Balchunas made a post on X (Previously Twitter) and confirmed that Canary XRP ETF is the second filing, joining <a href="https://coinpedia.org/news/xrp-news-bitwise-to-launch-first-xrp-etp/" rel="noopener noreferrer nofollow">Bitwise</a>. However, Eric’s post quickly viral and gained massive attention from crypto enthusiasts.&nbsp;</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/EricBalchunas/status/1843756827970023538
 </div>
</figure>  
<p>Another aspect of the Canary XRP ETF that gaining significant attention from crypto enthusiasts is its founder, Steven McClurg. Steven is the former CIO and Co-founder of Valkyrie Fund, which currently offers Bitcoin and Ethereum ETF in the United States.</p>  
<h2 class="wp-block-heading" id="h-steven-mcclurg-s-vision"><strong>Steven McClurg’s Vision</strong></h2>  
<p>However, Steven recently made a statement,</p>  
<blockquote class="wp-block-quote">
 <p>"We're seeing encouraging signs of a more progressive regulatory environment coupled with growing demand from investors for sophisticated access to cryptocurrencies beyond Bitcoin and Ethereum–specifically investors seeking access to enterprise-grade blockchain solutions and their native tokens such as XRP."&nbsp;</p> 
</blockquote>   [post_titles_links postid="362457"]  
<h3 class="wp-block-heading" id="h-xrp-current-price-momentum-nbsp"><strong>XRP Current Price Momentum&nbsp;</strong></h3>  
<p>Despite this significant development, <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">XRP’s price</a> remains unchanged. At press time, it is trading near $0.529 and has experienced a modest price decline of 0.53% in the past 24 hours. During the same period, XRP’s trading volume dropped by 23%, suggesting a lack of investor and trader participation amid ongoing price consolidation.</p>

Canary Capital Joins XRP ETF Race With US SEC Filing

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