Major Companies Queue Up for Ripple: Second ETF Application Made to SEC! - Coin Bulletin

After Bitwise, another cryptocurrency company has officially applied for Ripple.

Cryptocurrency investment firm Canary Capital applied to the U.S. Securities and Exchange Commission (SEC) on October 8 for registration of a spot XRP exchange-traded fund (ETF).

However, it was emphasized that no custodian or manager has been determined yet for the ETF.

As the second company to apply for the same product this month, it has attracted attention. Last week, the giant company Bitwise formalized the first step of the XRP application by submitting the necessary forms in ABD Delaware.

The founder of Canary Capital, Steven McClurg, stated the following about the subject:

We see an increasing demand from investors, especially at the institutional level, to access blockchain solutions and local tokens such as XRP, beyond Bitcoin and Ethereum. At the same time, we observe encouraging signs of a more progressive regulatory environment.

SEC has never approved any spot XRP ETF applications to date. If these applications are approved, it is considered that they may encounter some difficulties.

SEC alleged that XRP raised 1.3 billion dollars from the sale of unregistered securities through the lawsuit against Ripple. Although the case in question may result in a fine in the final stretch, insiders claimed that the SEC still might prolong the Ripple case.