XRP One Step Closer to Wall Street – Spot ETF Plans Hit the SEC Again
Canary Capital Group has taken another step toward bringing Ripple’s native token into mainstream markets, submitting an amended S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for its proposed Canary XRP ETF.
The updated filing highlights plans to list the fund on the Cboe BZX Exchange, giving traditional investors direct exposure to XRP price movements without needing to manage digital wallets or use crypto exchanges.
The ETF is structured as a Delaware statutory trust and will hold XRP directly, using the CoinDesk XRP CCIX New York Rate as its pricing benchmark. Custody services will be handled by a designated trust company, a model that mirrors existing spot Bitcoin ETFs but focuses on XRP instead.
A Step Toward Mainstream Access
If approved, the ETF would allow investors to buy and sell shares through regular brokerage accounts, making XRP accessible through traditional trading channels. Supporters argue that this structure could attract investors seeking transparency and simplicity compared to futures-based products, which rely on derivatives.
Canary Capital had previously faced an SEC delay on its initial application, but the amended filing signals persistence and confidence in eventual approval. The firm now joins a growing list of issuers betting that crypto-backed ETFs will see strong demand as regulatory clarity improves.
Regulatory Risks Remain
Despite growing optimism, the filing notes several risks. The trust will not fall under the protections of the Investment Company Act of 1940, meaning holders will not receive the same safeguards as mutual fund investors. Additionally, exchange outages or custody vulnerabilities could expose investors to significant losses.
Still, optimism around XRP’s regulatory position has increased following the dismissal of the SEC’s lawsuit in U.S. appeals court, a ruling that many see as a turning point for Ripple’s ecosystem. Market watchers believe this development improves the odds of the SEC eventually giving the green light to a spot XRP ETF.
Approval would mark a milestone for XRP, placing it alongside Bitcoin as one of the few digital assets accessible through regulated exchange-traded products in the U.S.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
