American-Made Crypto ETF Proposal Puts XRP in SEC Spotlight
On August 25, 2025, Canary Capital Group filed an S-1 for an American-Made Crypto ETF that would hold only cryptocurrencies invented, mined or primarily operated in the United States. The crypto ETF aims to channel institutional demand into U.S.-origin digital assets and spark regulatory scrutiny on domestic operations.
Eligibility criteria include tokens created entirely in the U.S., assets mined on American soil, or projects with core governance based in the country. By narrowing its focus, the American-Made Crypto ETF seeks to replicate the liquidity boost seen in U.S.-centric equity and bond funds within the crypto sector.
Market participants and institutional investors are watching the SEC review closely. Regulators are expected to examine custody arrangements, provenance verification and the enforceability of a U.S.-only rule. A favorable decision could set a precedent for jurisdictional selection in crypto ETFs and improve liquidity for qualifying tokens such as XRP.
In the short term, traders may hold positions pending SEC feedback. Long term, approval could drive inflows, bolster U.S. crypto infrastructure and increase institutional allocations to domestic digital assets.
Bullish
The proposal for an American-Made Crypto ETF signals growing institutional interest and regulatory focus on U.S.-origin tokens. Historically, U.S.-centric ETFs—such as spot Bitcoin and Ethereum ETFs—have attracted significant inflows and driven price rallies after SEC approval. If the SEC greenlights Canary’s crypto ETF, liquidity for qualifying assets like XRP is likely to increase, boosting trading volumes and price levels. In the short term, traders may adopt a cautious stance until the SEC issues comments or amendments. Over the long term, approval would provide a clearer regulatory framework, encourage capital inflows into domestic digital assets and enhance market confidence. This combination of increased demand and regulatory clarity supports a bullish outlook for XRP and other U.S.-focused tokens.