Canary Capital Group's proposal for a spot XRP exchange-traded fund (ETF) has recently appeared on the website of the Depository Trust & Clearing Corporation (DTCC), the primary U.S. clearing and settlement service for securities. This development has drawn attention, particularly given that Fidelity's Solana ETF proposal and Canary's HBAR ETF have also been listed on the DTCC's eligibility list, signaling a growing interest in various cryptocurrency-backed investment products.

However, the significance of these DTCC listings has been clarified by experts to manage expectations. Nate Geraci, president at NovaDius Wealth Management, emphasized that a DTCC listing is merely a standard preparatory step. It does not signify that the U.S. Securities and Exchange Commission (SEC) has approved these products or is even close to doing so. This procedural action is a necessary administrative formality that occurs ahead of any potential launch of an ETF product, but it does not pre-empt or influence the SEC's ultimate regulatory decision.

Despite the DTCC listing being a preparatory step, there is a prevailing sentiment that XRP ETFs might be nearing a conclusive decision from the SEC. As previously reported, the SEC has postponed its decision on a high-stakes ETF proposal submitted by the investment management holding company Franklin Templeton. The new deadline for this decision is November 14, indicating a very short delay. According to lawyer Bill Morgan, a notable XRP enthusiast, such a brief delay strongly suggests that the SEC is approaching a