XRP News Today: Canary Capital Moves Forward With XRP ETF, While New Altcoin Follows In XRP Success

The post XRP News Today: Canary Capital Moves Forward With XRP ETF, While New Altcoin Follows In XRP Success appeared first on Coinpedia Fintech News

The Chicago Board Options Exchange submitted four separate applications for XRP exchange-traded funds (ETFs) with the SEC on Jan. 6, 2025. These applications were filed by WisdomTree, 21 Shares, Bitwise, and Canary. Despite a recent 13.33% drop in XRP price over the past week and nearing its previous all-time high of $3.39 on January 4, 2025, the applications have been submitted. However, recently investors are looking for a new meme coin to focus all their attention on, and have turned their eyes to an up and coming token, Yeti Ouro (YETIO).

XRP ETF journey

On October 8, 2024, Canary Capital submitted a registration statement to the United States SEC for the proposed Canary XRP ETF.

Canary expects its XRP ETF to give investors direct exposure to movements in the price of XRP without the technicalities of owning the digital asset itself, including custody and security related issues.

The fund from Canary Capital will be investing in XRP directly while also benchmarking against the price action of XRP against the dollar. This approach is designed to provide a simple investing alternative for people wanting to capitalize on the dynamics surrounding the XRP token without having to directly trade the token on any cryptocurrency exchange.

Cointelegraph states the growing interest in XRP ETFs have skyrocketed since XRP’s win in the historic SEC v. Ripple Labs legal battle.

XRP has come under strong selling, lowering its price by 11.76% to $2.42, despite the past week bringing general technical growth including regulatory improvements and increasing institutional interest in XRP ETFs. Still, investors were wary since the current price behavior points to continuous market volatility.

XRP’s market capitalization still exceeds $139 billion, though, which reflects long-term investors’ continuous curiosity. Long term, this would also help to change the sentiment and preserve the XRP price.

Yeti Ouro: Revolutionizing DeFi And GameFi

Yeti Ouro (YETIO) is a cryptocurrency project focused on bridging the world between DeFi and GameFi. The Yeti Ouro Ecosystem is a Play-to-Earn (P2E) racing game — Yeti Go, that enables players to earn its YETIO tokens while competing in higher-than-max immersive environments.

Yeti Go is the new addition to the Yeti Ouro ecosystem that seeks to seamlessly combine gaming and earning in a single play-to-earn racing game. Yeti Go is still under development being built on Unreal Engine 5, but there has been a significant buzz among early adopters regarding its gameplay mechanics and reward system. The developers are working on a regular cadence, which, combined with a clear roadmap, means that Yeti Go is surely moving towards its launch and in the process, shifting the paradigm of crypto gaming for good.

The developers have teamed up with the visionary talents behind Call of Duty, Spiderman, Dead Space, and The Witcher to create breathtaking character assets, while Grammy-nominated industry experts craft the audio, drawing from their work with Major Lazer, Vybz Kartel, and Kabaka Pyramid.

Presale:

YETIO has come through its presale with a splash, selling 168 million + tokens. Already set at just $0.017, investors have received a 10% bonus for all purchases. The presale will imminently reach Stage 3 — a guaranteed price increase and an influx of investor interest.

With Yeti Ouro, users benefit from a deflationary model that rewards long-term holders by limiting the total supply to 1 billion tokens and incorporating a 5% burn clause in its contract, all while still offering staking opportunities and APY rewards.

In August 2024, Yeti Ouro was audited by the blockchain security firm SolidProof to enhance its credibility. The report also confirmed the project’s security and operational legitimacy, which also has added to investors’ confidence.

Yeti Ouro is methodically staking its claim as a mainstay of both the DeFi and GameFi space, with its successful presale, trusted audit, and unique ecosystem.

Join The Yeti Ouro Community