Canary XRP ETF

Canary XRP ETF is an exchange-traded fund designed to provide direct exposure to XRP, the native digital asset of the XRP Ledger. Managed by Canary Capital Group LLC, this ETF physically holds XRP, allowing investors to access the performance of this blockchain-based asset without the need to manage or secure the underlying cryptocurrency themselves. The fund determines its net asset value using a pricing benchmark based on a time-weighted average of XRP-dollar transactions from major trading platforms, as calculated by CoinDesk Indices. Shares of the ETF represent beneficial interest in the trust and are issued and redeemed in large blocks known as "Creation Units," primarily accessible to broker-dealers and institutional investors. The ETF charges an annual management fee of 0.50%. As the first U.S. spot XRP ETF, Canary XRP ETF plays a pivotal role in bridging traditional financial markets with the evolving digital asset ecosystem, offering streamlined, regulated access to XRP’s price movements and broadening participation in blockchain innovations.