Canary Funds Finalizes Filing for First Pure-Play XRP ETF Launching Thursday
- Canary Funds submitted its final filing with the U.S. SEC, set to become effective at 5:30 PM ET Wednesday.
- The fund will trade under the ticker symbol “XRPC” on Nasdaq, pending certification.
- This ETF will directly hold $XRP, distinguishing it from other XRP investment products in the U.S.
- CEO Steven McClurg anticipates potential inflows of $5 billion in the first month, aiming for a top position among ETFs.
- Crypto experts predict upward momentum for XRP, with some targeting prices as high as $5 by year-end.
The launch of this ETF represents a significant milestone for Ripple’s $XRP, as it is structured to hold only the token itself, enhancing its appeal to institutional investors.
With trading expected to commence Thursday morning, this ETF could mark a pivotal moment in the market, especially if it achieves projected inflows of $5 billion within its first month.
