Canary Capital, a digital asset investment firm, has made waves by filing for a <a href="https://optimisus.com/news/crypto-news/ripple-releases-1-billion-xrp-tokens-from-escrow-on-september-1st/" rel="noopener noreferrer nofollow">spot XRP ETF</a> with the U.S. Securities and Exchange Commission (SEC), following closely on the heels of Bitwise&#39;s similar move.This filing comes amid the ongoing legal tussle between Ripple Labs and the SEC over XRP&#39;s classification, highlighting a growing interest in cryptocurrencies beyond the traditional giants like Bitcoin and Ethereum.Founder Steven McClurg emphasized that the firm is motivated by a more favorable regulatory environment and a surge in investor curiosity about advanced blockchain solutions like XRP.This comes after a federal judge ruled in July 2023 that while Ripple&#39;s institutional sales of XRP were deemed unregistered securities, secondary sales were not classified as such. Ripple faced a $125 million penalty, significantly lower than the anticipated $2 billion, which led to a temporary dip in XRP&#39;s price.In response to the ongoing legal challenges, XRP supporters have launched a petition to halt the SEC&#39;s appeal in the Ripple case, gathering over 8,300 signatures towards a goal of 10,000.Currently, XRP&#39;s price is experiencing a slight uptick of 0.65%, with trading values fluctuating between $0.5216 and $0.5341, although the overall sentiment remains bearish.Recently, <a href="https://optimisus.com/market/market-news/bitwises-xrp-etf-faces-roadblocks-sec-appeal-and-political-landscape/" rel="noopener noreferrer nofollow">asset management Bitwise filed for an XRP ETF</a>, sparking discussions among industry experts about how the upcoming US election might impact its approval.

Digital asset firm Canary Capital files for spot XRP ETF with the U.S. SEC

Optimisus

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