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Canary Expected to Pause ETF Filings Involving XRP

Canary Expected to Pause ETF Filings Involving XRP

Canary Capital’s spot XRP ETF debuted on Nasdaq with rapid asset growth, marking $248 million total after $243 million second-day inflows.

XRP

Summary

Canary Capital’s spot XRP ETF, listed on Nasdaq on November 13 with a 0.50% fee, ended its first day with no inflows. The second day brought $243 million via cash and in-kind creations, raising total assets to $248 million. CEO Steve McClurg earlier stated the firm will halt new ETF filings this year to focus on managing the high-volume XRP ETF launched under current SEC-approved rules.

Terms & Concepts
  • ETF (exchange-traded fund): An investment fund traded on stock exchanges, holding assets such as stocks or cryptocurrencies.
  • XRP: A digital asset used in Ripple’s payment network, designed for fast and cost-efficient cross-border transactions.
  • SEC Generic Listing Standards: U.S. Securities and Exchange Commission criteria that allow certain ETFs to launch without lengthy reviews, based on factors like established futures market activity.