Canary Capital Pauses New ETF Filings After Successful XRP Launch
- Canary Capital has submitted applications for all eligible crypto assets under current SEC guidelines.
- The firm launched the first spot XRP ETF this week, achieving $58 million in trading volume on debut.
- Pending products include a Solana ETF priced at $141.22.
- CEO Steve McClurg indicated that future filings will depend on regulatory changes from the SEC.
- The SEC’s framework allows ETFs to move forward without lengthy reviews if they meet specific criteria, such as having a futures market for over six months.
With the launch of the XRP ETF, Canary Capital is focusing on managing existing products while awaiting potential regulatory shifts regarding crypto ETFs. The company believes it has filed all that can currently qualify under existing standards.
The successful launch of the XRP ETF with $58 million in trading volume highlights its potential to outperform other recent launches like Solana’s.(Source)
