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Ripple News: Canary Capital Seeks Approval For XRP ETF Amid Ripple-SEC Dispute

October 9, 2024

Ripple Unicorn News - October 09, 2024

Canary Capital has filed with the SEC to launch an XRP exchange-traded fund, marking a significant development in Ripple's ongoing legal battle with the SEC. This move could pave the way for increased institutional investment in XRP.

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( 00:00:34 ) Ripple's Legal Battle Intensifies: Canary Capital Files for Spot $XRP ETF Amid SEC Dispute

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Canary Capital has taken a significant step in the cryptocurrency investment sector by filing an S-1 form with the U.S. Securities and Exchange Commission (SEC) to establish an exchange-traded fund (ETF) based on XRP. This filing, made on a recent Tuesday, makes Canary Capital the second company to attempt launching an XRP-focused ETF. The move is particularly noteworthy given the current legal context, as it follows the SEC's decision to appeal a court ruling that classified XRP as a non-security. This legal dispute between Ripple, the company associated with XRP, and the SEC has been a pivotal issue in the regulatory framework for cryptocurrencies. Canary Capital's initiative could potentially mark a new era of acceptance and investment in XRP, contingent on the outcome of the SEC's appeal. The development is being closely watched as it could have significant implications for the broader cryptocurrency market and its regulatory environment.

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