The post Wall Street Surges Ahead with Exciting Crypto Spot ETF Launch appeared on BitcoinEthereumNews.com.

Key Points: Canary Capital Group files for its first-ever ETF tracking XRP, following Bitwise Asset Management’s move last week. Bitcoin ETFs pull in almost $19 billion, while Ether ETFs crypto spot ETFs face $550 million in outflows as firms like VanEck and 21Shares aim for Solana-linked funds. Ripple Labs faces penalties for XRP sales, but filings indicate firms are pushing regulators to allow retail investors to invest in crypto. On Tuesday, Canary Capital Group, a new investment firm focused on digital assets, filed paperwork with the Securities and Exchange Commission to launch the Canary XRP ETF, a crypto spot ETF. Canary Capital Enters the XRP ETF Race Canary, founded by former Valkyrie Funds co-founder Steven McClurg, said in a statement that he is “optimistic at signs of a more progressive regulatory environment coupled with growing demand from investors.” The filing did not include specifics like a ticker symbol or projected fees. If approved, it would be the firm’s first ETF. These filings follow the long-awaited launch of Bitcoin and Ether ETFs—crypto spot ETFs—earlier this year, which have been hot among investors. Bitcoin ETFs have gained almost US$19 billion in assets since their debut, while Ether ETFs have seen about US$550 million in outflows. Other firms are also racing to launch funds linked to other popular tokens, with VanEck Asset Management and 21Shares AG leading the charge for Solana. Read more: Spot Crypto ETFs Face Record Outflows Amid Global Market Crisis Ripple Faces Penalties Amid XRP ETF Filings Filings such as these show the industry onlooker that providers in the ETF space are keeping their eyes out for regulatory changes that could bring in new crypto offerings. This suggests to Stephane Ouellette, CEO of FRNT Financial, that whether or not such an approval comes along for XRP ETFs or crypto spot…

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Filed under: News - @ October 9, 2024 3:24 am