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Crypto investment firm Canary Capital has filed to create a spot XRP exchange-traded fund (ETF), the second issuer to bid for an XRP fund in the last seven days.
In an Oct. 8 filing with the Securities and Exchange Commission, Canary Capital said its ETF would give investors access to the XRP (XRP $0.5324) market “through a traditional brokerage account without the potential barriers to entry or risks involved with acquiring and holding XRP directly.”
Canary said its XRP ETF would track XRP’s price using the Chicago Mercantile Exchange (CME) CF Ripple index — a real-time price benchmark product. The Canary XRP ETF will provide investors with exposure to XRP. Source: SEC.
Canary Capital did not disclose who the custodian of the XRP ETF would be, nor did they clarify what ticker the fund would be listed under. Canary Capital’s move to file for an XRP ETF comes seven days after crypto asset manager Bitwise filed for an XRP fund with the SEC on Oct. 2.
XRP is currently trading for $0.53, up 0.4% on the day and trading flat on the week.
#SCRLaunchpoolStarts! XRP is up 0.4% on the day following the second application for an XRP ETF. Source: Cointelegraph If Canary Capital’s or Bitwise’s applications are approved by the SEC, it would be the first spot XRP fund to be approved by the regulator.
However, there are likely significant barriers to approval, including the SEC’s appeal of its lawsuit against XRP issuer Ripple, where the regulator claims the token is an unregistered security and accused the company of raising $1.3 billion through offering XRP.
#USDConSui The fund would avoid using any derivatives products in tracking the value of XRP, saying that this could subject their product to “additional counterparty and credit risks.”
#WeAreAllSatoshi
#moonbix
#SCRLaunchpoolStarts!

#Ethereum layer-2 scaling solution Scroll announced the launch of its native token, SCR, scheduled for October 22.
#Ethereum layer-2 scaling solution Scroll announced the launch of its native token, SCR, scheduled for October 22. The zero-knowledge rollup solution will officially list the token on Binance, while implementing an airdrop for its current users.
"SCR will be used as a primary governance mechanism of the protocol and progress to being a protocol utility token as Scroll becomes more decentralized," the team stated in an announcement on October 8.
The development also comes in January's roadmap of Scroll, detailing full-fledged transition into decentralized network architecture.
Scroll has distributed its 1 billion token supply as follows: 15% for airdrops, 35% for ecosystem growth, 17% for investors, 10% for the Scroll Foundation, and 23% for contributors. The upcoming airdrop will cover about 7% of the total distribution to incentivize active participants in the ecosystem.
As a ZK-rollup, Scroll is competing in one of the hottest spaces in cryptocurrency today. It needs to differentiate itself in a crowded market with other Ethereum scaling solutions like ZKsync Era (ZK) and Starknet (STRK).
Despite the fierce nature of competition, Scroll has managed to capture $1.2 billion in total value locked, outpacing ZKsync Era's $850 million and $625 million for Starknet.
"SCR will be involved in aligning the miner community and creating a robust prover network," the team said.
SCR will contribute to decentralizing Scroll's core infrastructure, including its prover and sequencer—the central components of the ZK-rollup architecture. The prover verifies the correctness of the transactions, while the sequencer orders the transactions before they are posted on the Ethereum mainnet.

Former President Donald Trump's odds of winning the 2024 presidential election have jumped past 53% on cryptocurrency prediction market Polymarket.
Former President Donald Trump's odds of winning the 2024 presidential election have jumped past 53% on cryptocurrency prediction market Polymarket and have moved ahead of Vice President Kamala Harris.
At the center of some such speculations is one mystery trader going by the name "Fredi9999," who has reportedly amassed an astonishing 7.8 million shares of Trump, arguably making him the largest position holder on the platform.
To some market participants, the timing of big bets, combined with pro-Trump statements from Elon Musk's social media accounts, has sparked speculation of a connection between the billionaire and the whale trader.
No direct evidence supports this theory, but the trader's big bankroll and focused interest in Trump fit the profile of a wealthy, committed supporter of the former president.
Polymarket is based on a very simple principle: share prices between $0 and $1 reflect perceived probability of an outcome. Yet this recent rise in Trump's odds doesn't seem particularly pegged to polling or major campaign news.
Nate Silver, the founder of FiveThirtyEight and a Polymarket advisor, says that the bump is more due to market dynamics than manipulation. "Sometimes market sentiment has a mind of its own, and that can especially happen when traders are bored and angsty because they're in the doldrums," Silver wrote in a recent newsletter.
He notes the current liquidity in the market makes it prohibitively expensive to artificially move the price for any period of time, indicating most bets come from "true Trump believers" or opportunistic traders.

🔹Bitcoin stabilizes just above the $62,000 level, eying for a rally ahead
🔹US Spot ETF data recorded an inflow of $233.8 million on Monday.
🔹The Kobeissi Letter highlights how the rising Global M2 money supply could be a positive sign for Gold and Bitcoin.
Bitcoin (BTC) hovers slightly above $62,000 on Tuesday after a minor decline on Monday, buoyed by positive signs such as over $233 million in inflows into US Spot BTC Exchange Traded Funds (ETFs). At the same time, The Kobesissi Letter noted that the rising global M2 money supply could be a favorable signal for both Gold and Bitcoin.
Bitcoin may reach $90,000 by 2024 amid rising Global M2 money supply
According to a recent tweet from The Kobeissi Letter, the total money supply in the United States (US), the Euro area, Japan, and China has reached a new record of $89.7 trillion, with $7.3 trillion added over the last year. In the US alone, the amount of money in circulation has surged $410 billion year-over-year to $21.2 trillion. This marks the largest increase in three years and a similar jump to the initial pandemic response in the first half of 2020 when favoring economic policies and stimulus packages caused global money printing. Such a condition has generally seen Gold and Bitcoin prices rally in the long term.
Additionally, US Bitcoin Spot Exchange Traded Funds (ETF) data recorded an inflow of $233.8 million on Monday. Studying the ETF flow data can be useful for observing institutional investors’ sentiment for Bitcoin. If this magnitude of inflow continues, demand for Bitcoin will increase, leading to a rise in its price.
Furthermore, Metaplanet Inc., a company publicly listed on the Tokyo Stock Exchange, announced on Monday an additional purchase of 108.786 bitcoin for a total investment of 1 billion yen (approximately $6.7 million). The average purchase price was 9.19 million yen per BTC. With this acquisition, Metaplanet’s total Bitcoin holdings now stand at 639.503 BTC. Metaplanet’s move could pave the way for broader adoption of Bitcoin and cryptocurrencies, among other companies.
Finally, crypto asset trading firm Capital QCP’s Monday report highlights the upcoming US Consumer Price Index (CPI) release on Thursday. “With the recent strong US wage and jobs numbers, the market will be paying close attention to this print for any signs of an uptick in inflation. Fed rate cut expectations have shifted from 50 bps to 25 bps in just a week, and this week’s data may determine if further cuts get priced out,” said QCP.
BTC holds $62,000 support level
Bitcoin price found support at the 200-day Exponential Moving Average (EMA), around $60,000, on October 2. It rose 3.5% in the following four days and broke above the $62,125 resistance level. As of Tuesday, BTC trades just above $62,000.
If the $62,125 holds as support, BTC could extend the rally to retest its psychological level of $66,000.
The Relative Strength Index (RSI) on the daily chart is at 52, just above its neutral level of 50, indicating a lack of momentum and indecisiveness among traders. For Bitcoin’s strength to be sustained, the RSI must rise above its neutral level and continue rising. However, if the $62,125 level fails, BTC could decline to retest its 200-day EMA level at $60,000.

New US hiring comes in 81% above expectations for September. Dockworker strike largely ends as automation negotiations get pushed into next year.Market loses interest with 50 bps November cut, 25 bps becomes gospel. Amazon hiring 250K seasonal jobs for Christmas season.
Amazon (AMZN) stock rose 2.5% on Friday after US jobs data overshot the Wall Street consensus by leaps and bounds.
The US Nonfarm Payrolls (NFP) for September reached 254K, according to the US Bureau of Labor Statistics. That figure for hiring was well above consensus of 140K, and the US Unemployment Rate also dropped by a tenth of a percentage point to 4.1%.
What’s more, the pathetic NFP released a month ago was revised up from 142K to 159K. And this positive economic turn comes on the heels of a sudden end to the dockworkers strike, which was resolved with a 62% wage hike over six years.
What’s more, the pathetic NFP released a month ago was revised up from 142K to 159K. And this positive economic turn comes on the heels of a sudden end to the dockworkers strike, which was resolved with a 62% wage hike over six years.
Both news items on Friday are tailwinds for Amazon stock, as well as other growth stocks. The Dow Jones Industrial Average (DJIA) rose 0.8% by the close, while the NASDAQ tacked on 1.2%.
Amazon stock news: Labor market improves, dockworker strike ends
Amazon will benefit by reducing the backlog of imports to its fulfillment network. Dozens of ships, maybe 54 at last check, were queued up at more than 30 ports stretching from Maine to Texas. The three-day strike by the International Longshoremen's Association may have pushed trade behind schedule, but it won’t be enough to delay Amazon imports for the heavy Christmas buying season.
However, the union’s master labor contract will be enforced through January 15, 2025, but the port operators continue to want to increase automation at the ports, a strategy that would likely lead to job losses. The union opposes any turn toward automation, so that subject will continue into negotiations next year.
Growth-oriented companies like Amazon also stand to benefit from lower interest rates. The NFP report on Friday was robust enough that the market is now discounting its prior prediction of another 50 bps cut at the Federal Reserve’s (Fed) November meeting. All bets now point to a smaller 25 bps cut followed by the same at December’s meeting.
This means that the market now expects continued rate cuts throughout 2025 but maybe a little slower than expected. The central bank began its cutting cycle in September with a large 50 bps cut since the labor market appeared to be souring.
Noted Fed dove Austan Goolsbee, the President of the Chicago Fed, said that most Fed governors favor “a lot” of cutting over the next 18 months. That should be a boon to stock investors, broadly speaking.
On Thursday, Amazon said it was in the process of hiring 250,000 seasonal workers for the coming holiday season. This is the same level as last year, and Amazon said in a statement that a fair amount of the seasonal workers would likely stay on as full or part-time employees into 2025.
During the fourth quarter last year, Amazon saw sales spike to nearly $170 billion. If the YoY growth rate of recent quarters stays the same (between 10% and 14%), then this Q4 could top $190 billion.
Amazon stock chart
Amazon stock fell for seven straight sessions through Thursday, so holding onto Friday's gains was a big deal. AMZN closed the week at $186.51. The obvious thought is whether AMZN stock can overtake September resistance at $195 next week and reach July resistance just above $200.
Support sits close by if those target levels don't work out. The 50-day, 100-day and 200-day Simple Moving Averages (SMA) all drift in the vicinity of $177 and $183.