PANews reported on August 31st that according to Oakparkjournal, Steven McClurg, CEO of digital asset management firm Canary Capital, recently discussed XRP's market position in the cryptocurrency sector. He stated that XRP's recognition among Wall Street professionals is second only to Bitcoin, and that if an XRP ETF is approved by the U.S. Securities and Exchange Commission, market demand could surge. It is reported that Canary Capital submitted an application for registration of a spot XRP exchange-traded fund (ETF) last October, but has not yet received regulatory approval.