Canary Capital Files with SEC to Launch American-Made Crypto ETF Backed By US-Origin Assets Like XRP

Prominent asset manager Canary Capital has filed with the ￰1￱ to launch a niche-based digital asset ETF, called the American-Made Crypto ￰2￱ recently submitted an S-1 document with the SEC, disclosing its intention to launch a new ETF that will hold a basket of U. S.-linked ￰3￱ fund will exclusively focus on tracking the Made-in-America Blockchain index, primarily comprising cryptocurrencies with strong ￰4￱ ETF will include crypto assets that were either created in the United States, primarily mined or minted domestically, or whose protocol operations are based mainly within the ￰5￱ to the filing, the fund intends to generate additional rewards for investors by participating in certain network activities, like staking, if permitted.

Notably, Canary will act as the fund’s sponsor, while CSC Delaware Trust will serve as its ￰6￱ intends to list shares of the fund in the U. S.-based equities exchange Cboe ￰7￱ the meantime, Cboe has yet to file a 19b-4 application, officially indicating its interest in listing the ￰8￱ has been assigned as the fund’s ticker symbol. Meanwhile, the filing did not disclose the identities of the transfer agent and the ￰9￱ XRP Feature in the Fund? Bloomberg analyst Eric Balchunas highlighted Canary’s proposed ETF, noting that it aims to provide investors with exposure to crypto assets closely tied to the United ￰10￱ a subsequent post, the ETF analyst disclosed that he is unsure which cryptocurrency will qualify for inclusion in the Canary American-Made Crypto ￰11￱ posed the question to his over 364,100 X followers, asking them to specify which U.

S.-linked cryptocurrency will make the list. ￰0￱ Whale Wire CEO Jacob King specifically mentioned XRP and Solana among the U. S.-invented cryptocurrencies that could back Canary’s American-Made Crypto ￰12￱ is worth mentioning that XRP was pre-mined by three American ￰13￱ since, San Francisco-based fintech company Ripple has supported developments of the token and its underlying blockchain, XRP Ledger (XRPL). Similarly, Solana’s early development was firmly rooted in the United ￰14￱ King’s view, XRP and Solana’s strong ￰15￱ make them suitable candidates for the Canary American-Made Crypto ￰16￱ remains to be seen whether XRP or Solana will be featured in the Canary American-Made Crypto ETF.

However, the SEC is currently reviewing Canary’s application to launch a spot XRP ETF in the U. S.