Canary Capital has announced its filing for a new exchange-traded fund (ETF) dedicated solely to digital assets created in the U.S.
Canary Capital's New ETF for Digital Assets
Canary Capital has filed for a new ETF that will focus on digital assets subject to specific U.S. regulations. Named the Canary American-Made Crypto ETF, it aims to give investors access to cryptocurrencies developed within U.S. territory. This fund will only hold assets that meet stringent standards, including cryptocurrencies designed in the United States and projects primarily operating on American networks.
Additionally, the ETF will track the Made-in-America Blockchain Index, which showcases blockchain projects from the U.S., emphasizing transparency and regulatory compliance.
ETF History of Canary Capital
Last year, Canary Capital sought to launch an XRP ETF following Bitwise's filing. The firm emphasized its goal of providing an easy way for investors to gain exposure to XRP without holding the cryptocurrency directly. This year, NASDAQ submitted a filing with the SEC on behalf of Canary Capital for a Hedera (HBAR) ETF. Furthermore, the firm registered an S-1 for the SUI ETF and, along with others, filed for an ETF based on the Tron network's token, TRX.
Rejection of Dogecoin ETF
Notably, despite numerous filings, Canary Capital confirmed it has no interest in pursuing a Dogecoin ETF. According to CEO Steven McClurg, this lack of interest is due to the coin's utility issues within the broader cryptocurrency landscape and its unlimited supply, both of which significantly impact its investment appeal.
The filing of the Canary American-Made Crypto ETF underscores the growing interest in creating regulated investment tools in the digital asset space in the U.S., potentially leading to a greater variety of offerings for investors.
