CandleFocus Ripple CEO Says It is Happening Again for XRP
2024-10-09
Author: Content Editor
Canary Capital has filed an application with the U.S. SEC for a spot XRP exchange-traded fund (ETF), which Ripple CEO Brad Garlinghouse expressed optimism about. Canary's XRP ETF, if approved, would allow investors to gain exposure to XRP while eliminating the risks of directly purchasing or holding the asset. The net asset value of the ETF will be determined based on the CME CF Ripple – Dollar Reference Rate. This news comes after Bitwise also filed for an XRP ETF. Meanwhile, the SEC has filed an appeal to challenge the Ripple ruling, but Ripple remains confident in XRP's non-security status. It is uncertain whether the SEC will approve the Canary and Bitwise ETF applications amid the appeal.
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