“A successful ETF launch could expand XRP’s liquidity base and potentially trigger inflows from registered investment advisers who may have avoided direct crypto exposure beyond bitcoin.”, — write: www.coindesk.com
The filing, according to Bloomberg’s ETF analyst Eric Balchunas, signals the fund’s readiness for trading and represents the final procedural step before activation. A successful ETF launch could expand XRP’s liquidity base and potentially trigger inflows from registered investment advisers who previously avoided direct crypto exposure.
Once the Nasdaq certifies the listing — expected by 5:30 pm ET on Wednesday — the ETF will become effective, clearing the last regulatory hurdle for a Thursday market open. The product will fall under the Securities Act of 1933, allowing for direct exposure to XRP rather than futures or hybrid structures.
The approval would mark a milestone for Ripple’s ecosystem and the broader crypto market, arriving nearly two years after spot bitcoin ETFs debuted in January 2024.
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Canary’s ETF provides full, one-to-one spot XRP backing held in custody with a regulated trust, unlike REX-Osprey’s recently debuted $XRPR ETF, which operates under the Investment Company Act of 1940 and offers only partial XRP exposure through a mixed-asset structure.
The partial exposure results in higher tracking costs and less favorable tax treatment.
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CoinDesk analysis suggests that Canary’s debut may facilitate cleaner price discovery and serve as a test case for whether institutional capital will shift into altcoin-based products beyond Bitcoin and Ether.
XRP traded near $2.48 in Asian morning hours on Wednesday, down 5% in 24 hours alongside a broader market slide.
With spot ether ETFs now live and solana applications still pending, the XRP approval could cement a new phase of asset diversification in the US crypto ETF landscape — one that extends beyond the big two networks – Bitcoin and Ethereum – into networks with defined payment and settlement use cases.
A deep dive into Zcash’s zero-knowledge architecture, shielded transaction growth, and its path to becoming encrypted Bitcoin at scale.
- Shielded adoption surgedwith 20–25% of circulating ZEC now held in encrypted addresses and 30% of transactions involving the shielded pool.
- The Zashi wallet made shielded transfers the default, pushing privacy from optional to standard practice.
- Project Tachyonled by Sean Bowe, aims to boost throughput to thousands of private transactions per second.
- Zcash surpassed Monero in market share, becoming the largest privacy-focused cryptocurrency by capitalization.
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The negotiations, which began earlier this year and progressed to an exclusivity agreement in October, were expected to value BVNK between $1.5 billion and $2.5 billion.
- Coinbase has ended acquisition talks with the UK-based stablecoin startup BVNK, which could have been a major deal in digital payments.
- The decision to halt the talks was confirmed by a Coinbase spokesperson, but no reasons were provided.
- The acquisition of BVNK would have enhanced Coinbase’s position in cross-border payments and merchant services.
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