Canary Capital Files for US Crypto ETF with SEC
- Canary Capital files S-1 for US-focused crypto ETF.
- Targets cryptocurrencies with strong US ties.
- SEC approval pending, impacts US-origin crypto assets.
Canary Capital has filed an S-1 application with the SEC for the Canary American-Made Crypto ETF, aiming to list it on the Cboe BZX Exchange under the ticker MRCA.
This filing marks a pivotal move in emphasizing U.S.-origin cryptocurrencies, potentially affecting assets like SOL, ADA, and XRP, yet detailed market reactions remain awaited.
Canary Capital has submitted an S-1 application to the SEC for the Canary American-Made Crypto ETF. The proposed ETF aims to list on the Cboe BZX Exchange under ticker MRCA.
Entities such as CSC Delaware Trust Company will act as the trustee. The ETF will track the Made-in-America Blockchain Index, focusing on US-origin cryptos like XRP, SOL, ADA, and others.
The ETF’s filing comes amid rising interest in US-centered digital assets, influenced by policymakers advocating for domestic crypto innovation.
Regulatory implications are significant, as the SEC has postponed recent decisions on several crypto ETFs. The ETF’s focus is likely to drive interest from US investors.
The ETF aims at enhancing access to American-made crypto assets, potentially impacting market dynamics and investor strategies.
Historical precedents suggest that the launch of new ETFs often increases trading volumes and asset premiums. It could also prompt more US-focused ETF filings, according to Eric Balchunas, a Bloomberg analyst, who noted, “Get ready for ETFs to try every combo imaginable.” source
