**Crypto News Flash: Canary Capital Files for XRP ETF**

Canary Capital has officially filed with the SEC to launch a spot XRP exchange-traded fund (ETF), marking the second such filing in just a week. This ETF aims to offer investors easy access to the XRP market via traditional brokerage accounts, bypassing the complexities and risks of direct XRP ownership.

The ETF will track XRP prices using the CME CF Ripple index, ensuring real-time price benchmarks without relying on derivatives, thus minimizing counterparty and credit risks.

This move follows Bitwise's similar filing on Oct. 2. If approved, it would be the first spot XRP fund sanctioned by the SEC. However, approval hurdles remain, including the SEC's ongoing lawsuit against Ripple, alleging XRP is an unregistered security.

XRP is currently trading at $0.53, up 0.4% today.