XRP News Today: Canary Files US-Only Made-in-America Crypto ETF Amid SEC Delays

Canary Capital Group has filed with the Securities and Exchange Commission (SEC) to launch the Canary American-Made Crypto ETF (MRCA), a US-only fund designed to track the Made-in-America Blockchain Index. This index includes cryptocurrencies that are created, mined, or primarily operated in the United States, with staking rewards added to the fund’s net asset value (NAV). The fund is proposed to list on Cboe BZX and exclude stablecoins, memecoins, and pegged tokens [1].

The index requires that tokens meet strict custody eligibility with a regulated US trust or bank, maintain minimum liquidity, and trade on multiple established venues. It is rebalanced quarterly to ensure continued compliance with these standards. The fund intends to custody holdings with a South Dakota-chartered trust company and store most assets in cold storage. Proof-of-stake holdings will be staked via third-party providers, with rewards intended to be added to the fund’s NAV [1].

According to CoinMarketCap’s “Top Made in America Tokens by Market Cap” index, potential candidates for the index include XRP, Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Chainlink (LINK), and Stellar (XLM), subject to custody and liquidity criteria. The inclusion of XRP is notable given the ongoing SEC review of the 21Shares Core XRP Trust, which has also been delayed [1].

The SEC has extended review periods for multiple crypto ETF applications, including MRCA. Recent extensions include decisions on NYSE Arca’s Truth Social Bitcoin and Ethereum ETF to October 8, 2025; 21Shares and Bitwise’s Solana ETF to October 16, 2025; and the WisdomTree XRP Fund to October 24, 2025. The SEC also pushed back a decision on the Canary PENGU ETF to October 12, 2025 [1].

Canary Capital is positioning the MRCA ETF amid evolving regulatory developments. In July, former SEC Commissioner Paul Atkins launched Project Crypto, seeking clearer US guidance for tokenized assets. Additionally, an August 5 SEC staff statement clarified that certain liquid staking arrangements may not be securities, potentially easing approval concerns for staking-inclusive ETFs [1].

Canary recently filed for multiple themed ETFs, including a Trump Coin ETF, and separate ETFs tied to Solana (SOL), XRP, SUI, and TRX. All remain under SEC review. The MRCA ETF differs from these by imposing strict US-origin and custody criteria and explicitly incorporating staking rewards into NAV [1].

The fund excludes stablecoins, memecoins, and pegged tokens. Only tokens that meet custody, liquidity, and trading venue criteria are considered eligible. Staking rewards are intended to enhance the fund’s total return by being credited to the trust before NAV calculation, potentially improving performance compared to unstaked holdings [1].

The SEC’s staggered review process has delayed multiple ETF decisions, with MRCA remaining under evaluation. Investors should monitor the SEC’s extended deadlines and Canary’s related ETF applications for signals on regulatory timing and stance [1].

Source: [1] Canary Files US-Only Made-in-America Crypto ETF That Could Include XRP as SEC Reviews Applications (https://en.coinotag.com/canary-files-us-only-made-in-america-crypto-etf-that-could-include-xrp-as-sec-reviews-applications/)