BREAKING: SEC Approves First-Ever XRP ETF – Canary Set to List on Nasdaq in Watershed Moment for Crypto
The dam finally breaks—regulators cave to institutional demand as XRP gets its mainstream coming-out party.
Wall Street’s Crypto U-Turn
The SEC’s surprise green light for Canary’s XRP ETF marks a tectonic shift. After years of hostility, the gatekeepers just handed crypto a golden ticket to Nasdaq’s institutional playground.
Why This Stings for Bitcoin Maxis
While BTC ETFs crawled through regulatory molasses, XRP just waltzed into the club. The ‘unregistered security’ narrative? Officially dead—buried by the same agency that tried to kill it.
The Cynic’s Footnote
Of course Wall Street embraced the token they once mocked—nothing soothes banker skepticism like a 20% management fee wrapped in blockchain buzzwords.
What the Filing Confirms
The SEC registration builds on the earlier Form S-1 submission from October 24, which detailed the ETF’s structure and investment strategy. Managed by Canary Capital Group LLC, the trust will issue common shares of beneficial interest, designed to give investors regulated exposure to XRP through traditional brokerage accounts.
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Market Reaction and Outlook
The announcement has already lifted XRP’s price, fueled by renewed optimism in the crypto market following signs of economic stabilization and policy clarity in Washington. Analysts say the ETF could open the door for institutional investors who previously avoided direct crypto holdings due to regulatory uncertainty.
Market watchers believe this approval could mark a turning point for XRP, similar to the effect that spot Bitcoin and ethereum ETFs had on their respective ecosystems earlier in the year.
