After Launching the First XRP ETF this Firm is Filing for More Altcoin ETFs | Steven McClurg
July 22, 2026
AI Summary
5 min readIn the middle of a market downturn, Canary Capital’s CEO Steven McClurg reports that his firm is still seeing net inflows into its crypto ETFs. “At this part in time, it shows me that a true bottom is forming,” he says. “The smart investors, this is the time they come in and take positions because you're at the lows.” McClurg is speaking at the Injective Policy Summit in Washington, D.C., and the conversation covers his firm’s aggressive expansion into altcoin ETFs, the mechanics of staking within an ETF wrapper, and why he thinks one piece of widely anticipated crypto legislation is largely symbolic.
The First-Mover Advantage in Altcoin ETFs
Canary Capital launched the first XRP ETF in the United States, and McClurg says it was “the biggest ETF launch last year” for the firm — a notable achievement for a small, new company. The fund brought in about $250 million on day one. Since then, Canary has launched four more crypto-related ETFs, all single-token products. The firm has additional filings pending with the SEC, including ETFs for Tron, Injective, Pepe, and Pingu. McClurg is particularly excited about the meme coin filings, calling Pepe and Pingu “my two favorite memes.” He describes the process as “going back and forth with the SEC on S-1s as we normally do,” suggesting that approvals are a matter of when, not if.
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What you'll learn
- 1 (01:33) **Introduction & Canary Capital's ETF Progress** - CEO Steven McClurg discusses the firm's five launched crypto ETFs and several more filings with the SEC.
- 2 (02:42) **XRP ETF Success Story** - Canary Capital's XRP ETF was the biggest ETF launch last year, with $250 million on day one.
- 3 (03:26) **Future ETF Plans: Indexes & International Expansion** - Canary is holding off on index ETFs until a clear theme emerges, but is exploring Japan and Korea.
- 4 (04:41) **Hong Kong as a Model for Capital Retention** - Discussion on how Hong Kong's ETF wrapper could help mainland China prevent capital flight.
- 5 (05:29) **The Clarity Act: Symbolic vs. Substantive Impact** - McClurg argues the Clarity Act is largely symbolic and won't materially affect ETF flows.
- 6 (07:06) **Staking in ETFs: Mechanism & Investor Behavior** - Canary stakes all eligible tokens in its ETFs and passes the yield to clients.
- 7 (09:54) **Market Timing & Asymmetric Risk** - McClurg advises against trying to time the exact bottom, noting that macro perspective is key.
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Show Notes
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⏰ Time Stamps ⏰
00:00 Intro
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#XRP #Altcoins #ETFs #Crypto #CryptoNews #Cryptocurrency #Bitcoin #BTC #BitcoinNews #Ripple #XRP #XRPNews #Ethereum #EthereumNews #ETH #Solana #Solananews #money #investing #trading #Altcoin #Stablecoin #Tokenization #Podcast #ThinkingCrypto #news =================================================
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