Canary Capital Files Updated S-1 for XRP Spot ETF, Approaching Potential Nasdaq Listing

Canary Capital has filed an updated S-1 document with the SEC to launch a spot XRP ETF, signifying progress towards regulatory approval. The ETF seeks listing on a recognized exchange, with Steven McClurg serving as the key contact. Key features include direct holding of XRP and a unique structure that sets it apart from other similar products. Canary Capital itself has invested $250,000 to acquire 10,000 shares in the trust. While not directly impacting Bitcoin or Ethereum, the filing could significantly impact XRP’s position in the crypto market if approved.