Canary Capital Halts New ETF Submissions After Successful XRP Launch

Following the successful launch of its XRP-backed exchange-traded fund (ETF), Canary Capital has announced a pause on new submissions for additional cryptocurrency ETFs, at least until the end of 2025. CEO Steve McClurg cited regulatory hurdles as the primary reason behind this decision. The SEC’s stringent listing standards currently restrict applications, requiring specific market conditions and minimum trading history before approval.