XRP ETF Expected to Launch Next Week

Speaking at the Ripple Swell conference, McClurg revealed that the wait for an XRP ETF might soon be over. He confidently stated,

“We are ready to launch the XRP ETF next week.”

The announcement sparked considerable excitement within the XRP community and across the broader crypto market. Analysts suggest this development could mark the next major milestone in the expansion of altcoin-based ETFs, following the footsteps of Bitcoin and Ethereum products that reshaped investor access to the digital asset space.

McClurg emphasized that the introduction of XRP ETFs is not only a win for XRP investors but also a significant step forward for the institutional integration of the crypto industry.

XRP: The Next Wall Street Favorite

According to McClurg, XRP is on track to become the second most recognized cryptocurrency on Wall Street, right after Bitcoin. He noted that institutional interest in XRP has been rapidly accelerating and projected that within just 30 days of launch, the XRP ETF could attract as much as $5 billion in institutional inflows.

“XRP’s real-world utility and its strong community support could make this ETF one of the most successful launches in crypto history,” McClurg stated, underscoring the asset’s long-term potential in regulated financial markets.

Institutional Momentum Grows

McClurg also drew comparisons between XRP and Ethereum ETFs, highlighting that XRP’s structural simplicity could offer an advantage. Unlike Ethereum, XRP doesn’t rely on staking mechanisms, which means ETF investors won’t miss out on potential yields or face related complications.

As the market anticipates this launch, industry observers see XRP ETFs as a pivotal moment for altcoins — signaling not just diversification in ETF offerings, but a broader validation of crypto’s role in mainstream finance.

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Canary Capital Launches AXL Trust for Institutional Investors, AXL Token Jumps 12.5%

Canary Capital has launched the Canary AXL Trust for institutional investors to gain exposure to Axelar Network’s native token, AXL. This private investment vehicle is designed solely to hold AXL, with Coinbase appointed as the official custodian for the AXL Trust.

The newly launched Canary AXL Trust is available exclusively to accredited investors, providing them with the opportunity to invest in other crypto assets beyond Bitcoin and Ethereum, specifically the AXL token. Additionally, Canary Capital offers digital asset investment strategies and hedge fund solutions for institutional clients.

Immediately following the launch of the Canary AXL Trust, the AXL token saw a 13% increase.

The market capitalization of the AXL token stands at $460 million, with a fully diluted valuation of over $596 million. The circulating supply of AXL is approximately 918 million. AXL is used not only as a governance token but also for paying transaction fees, staking, and earning rewards when delegated to validator staking pools.

Steven McClurg, CEO of Canary Capital, explained that the firm chose AXL as the underlying asset for this trust due to the Axelar network being a driving force behind many of the most advanced interoperability solutions in Web3.

In his statement, McClurg said, “As institutional demand for crypto exposure grows, we remain committed to offering structured, secure, and innovative investment vehicles that align with the future of blockchain adoption.”

Axelar Network Continues to Grow, Canary Capital Launches HBAR Trust

Axelar Network, a cross-chain protocol closely linked to Ripple’s stablecoin RLUSD, serves as a bridge between XRP Ledger and the XRP Ledger Ethereum Virtual Machine. The protocol experienced significant growth in 2024, with a 71% increase in active users and a transaction volume reaching $10 billion.

By early 2025, Axelar became the 11th largest blockchain network by total value locked (TVL), surpassing $1 billion for the first time.

In October 2024, Canary Capital launched the first HBAR Trust in the U.S., based on the native token of the Hedera network, HBAR. This trust provides U.S. investors with a structured way to invest in HBAR.

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