Canary Capital is edging closer to the U.S. Securities and Exchange Commission (SEC) approval for its XRP and Solana (SOL) exchange-traded funds after filing updated registration statements on Friday.
The firm disclosed a 0.50% sponsor fee for both the Canary XRP ETF and the Canary Marinade SOL ETF, a reduction from the 0.95% set for its earlier HBAR and Litecoin products.
Bloomberg ETF analyst Eric Balchunas noted that Canary’s Solana ETF includes staking but won’t distribute staking rewards, signaling final preparations for approval.
However, the U.S. government shutdown has disrupted that momentum. The SEC missed its October 2 deadline for Canary’s Litecoin ETF decision, and while the agency’s new S-1 framework removes strict timelines, it also adds uncertainty.
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