Canary Likely To Hit Pause on ETF Filings With XRP, Eyes SEC Shift for What’s Next

Canary Capital CEO Steve McClurg indicated the firm will likely halt new crypto exchange-traded fund (ETF) filings for the rest of the year, having already submitted applications for every token that currently qualifies under the SEC's generic listing standards. These standards require assets, like XRP, to have a futures market trading for over six months. The firm recently launched the first spot XRP ETF, which saw strong initial trading volume, and also has a pending Solana ETF. Canary will now focus on managing existing products and awaits potential shifts in how the SEC approaches crypto ETFs, noting that new launches will depend on qualifying under generics or undergoing the more involved 19b-4 approval process. McClurg suggested the XRP fund might outperform Solana counterparts due to XRP's greater familiarity among traditional finance players.

(Source：CoinDesk)