Second XRP ETF Filing Hits The Market, How Did The XRP Price Respond?
Canary Capital filed an S-1 application for an XRP Exchange Traded Fund (ETF) with the SEC on October 8, following Bitwise's earlier filing on September 30. The ETF aims to provide direct exposure to XRP's value, facilitating access through brokerage accounts and tracking performance via a pricing benchmark similar to the CME CF Ripple index. Details about the ETF's custodian and ticker remain undisclosed, but the Delaware Trust Company will act as the Trustee. Both ETF applications require SEC approval, which may be delayed due to Ripple's ongoing legal issues with the regulator. Despite the ETF filing, XRP's price has declined by 0.72% in 24 hours and 0.79% over the past week, reflecting bearish trends and regulatory uncertainty, although some community members remain optimistic about a potential price rally.
