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Canary Funds XRP ETF set for potential launch on November 13th
The first pure spot XRP ETF could be just around the corner, with Canary Capital filing an updated S-1.
- Key update. Canary Funds has filed an updated S-1 with the SEC for its proposed XRP ETF.
The exchange-traded fund Canary Funds has filed an updated S-1 (a key registration document with the SEC) for an XRP ETF. In that update, the broadcaster removed something called a “delayed amendment”. This essentially means that filing automatically becomes effective after 20 days.
The countdown ends on November 13, so that’s the day the product will automatically go live after months of anticipation.
- Background. The XRP ETF was recently listed by the Depository Trust & Clearing Corporation (DTCC).
If the Nasdaq approves the Form 8-A, which is a filing that makes the shares of the product tradable, the ETF will be officially live. However, the date could still change if the SEC ends up adding more comments. Last month, as reported by U.Today, the ETF was listed by the Depository Trust & Clearing Corporation (DTCC).
Michael Saylor reacts to the Bitcoin price crash with a symbolic post
CEO of strategy keep the faith in Bitcoin as a new sales cycle emerges.
- Key update. Michael Saylor addressed the recent Bitcoin (BTC) price crash.
Strategy CEO Michael Saylor shared his take on the recent Bitcoin (BTC) price crash. His comments sparked backlash in the crypto community, with many supporting his take.
The post features a dramatic photo of himself sitting at a chessboard with carved pieces and a ticking hourglass next to him. This visual suggests a calculated long-term game, which symbolizes strategy, and the hourglass suggests time-sensitive movements in the BTC price.
- The bottom of the market. His message alludes to an ongoing “battle” for Bitcoin’s bull market.
His comments also suggest a battle for the continuation of the BTC bull market despite the ongoing price decline. Furthermore, the “battle” likely represents the ongoing struggle between Bitcoin and traditional financial systems, including fiat currencies and market makers.
Cardano registers death cross as whales unload 100 million ADA
Cardan he finished a death cross as selling worsened in a volatile Thursday session that saw nearly $1.13 billion in leveraged futures liquidations.
- Price update. Cardano extended its decline for a fourth consecutive day since reaching a weekly high of $0.693.
Cardano, the 10th largest cryptocurrency, extended its slide from the beginning of the week, now entering its fourth day of decline from Monday’s high of $0.693.
In the middle of the drop, Cardano completed a death cross on its short-term charts, especially the hourly chart. The hourly MA 50 has fallen below the hourly MA 200, completing a “death cross” on the Cardano USD chart, reflecting short-term selling pressure.
According to Ali, a crypto analyst, the big holders of Cardano took profits in the last three days, as the price fell, with 100 million ADA sold by whales in 72 hours.
