SEC Acknowledges Spot XRP ETF Filing from Canary Capital

The U.S. Securities and Exchange Commission (SEC) has acknowledged a spot XRP ETF filing from Cboe BZX Exchange on behalf of Canary Capital, marking a key milestone in the crypto ETF sector. This acknowledgment initiates the SEC’s formal review process, which will determine whether the proposal secures regulatory approval.

As part of the approval procedure, a public comment period will begin 21 days after the filing is published in the Federal Register. During this phase, the SEC will review public input before making a final decision—either approving, rejecting, or extending its examination.

The filing represents the second step in the crypto ETF approval process, following the submission of a 19b-4 form to the SEC. Once acknowledged, it enters the Federal Register, officially triggering regulatory scrutiny.

Canary Capital’s XRP ETF is not the first of its kind. The SEC has previously acknowledged similar filings from 21Shares, Bitwise, Grayscale, and CoinShares. Additionally, Canary Capital has had a Litecoin ETF filing recognized by the agency.

The acknowledgment follows last year’s landmark approvals of spot Bitcoin and Ethereum ETFs, fueling a surge in new crypto ETF applications. With the current administration taking a more crypto-friendly stance, the market is witnessing increased regulatory engagement.

Further emphasizing this shift, a newly established crypto task force, led by Republican SEC Commissioner Hester Peirce, aims to clarify regulations and set priorities for the evolving crypto landscape.

The SEC’s decision on Canary Capital’s spot XRP ETF could significantly impact the broader adoption of crypto ETFs and shape the regulatory outlook for digital assets in the U.S.