Canary Capital Files For Staked CRO ETF with US SEC

One of the leading crypto management firms, Canary Capital Group LLC, has filed with the United States Securities and Exchange Commission, a Canary staked Cronos (CRO) exchange-traded fund (ETF). This is an ETF product that issues shares of beneficial interest that trade on the exchange.

According to a recent S-1 filing, the asset manager aims to provide investors with exposure to the staking rewards and price movements of CRO, the native token of the Cronos blockchain. Cronos supports high-performance, interoperable transactions and is used for various purposes, including payment and staking.

CRO Surges Over 3.40%

If approved, the latest proposal would mark a significant milestone in enabling everyday investors to access crypto staking through a regulated investment product. Meanwhile, following the filing, CRO saw a remarkable increase and is now trading at $0.09951, representing an increase of over 3.40% in the last 24 hours.

The proposed ETF notes that the Trust’s shareholders will not benefit from the risk mitigation frameworks and regulatory protections available to CRO futures participants on CFTC-regulated derivatives markets. 

Notably, by abstracting away the complexities of direct crypto custody, a CRO ETF would allow both retail and institutional entities to gain seamless exposure to the asset while simultaneously enhancing token liquidity and reinforcing market infrastructure. 

Growing Demand for CRO ETF & Other Filings

Canary Capital’s CRO ETF filing signals rising investor demand for crypto-linked products, especially those tied to staking and DeFi. By incorporating staking rewards into the ETF’s design, investors can benefit from any price increase in CRO while also earning passive income through the staking process, similar to earning interest on a savings account. 

Interestingly, the latest move comes a few days after Nasdaq, a global stock exchange, applied for 21Shares SUI ETF. The proposed ETF by 21Shares enables indirect investment in the Sui ecosystem, allowing market participants to benefit from asset price movements while avoiding the burdens of digital asset custody and security. 

Similarly, Nasdaq has also filed with the US SEC to list and trade shares of the VanEck Avalanche ETF. CoinTab reported that the asset management company will sponsor the Trust, and a third-party custodian will hold all the Avalanche tokens on behalf of the Trust. 

In addition to the filing, the strategy would allow investors to profit from AVAX’s performance without needing to log into any exchange. According to reports, If it receives regulatory approval, VanEck would become the first asset manager to offer investors indirect access to AVAX, eliminating the need for direct token ownership.

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