Canary Capital Group LLC has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch two innovative ETFs focusing on Cronos (CRO), the native token of the Cronos blockchain. These filings mark a significant milestone for cryptocurrency-based exchange-traded products (ETPs) within the U.S. market.
The first filing is for a Staked CRO ETF, designed to provide U.S. investors exposure not only to CRO’s price movements but also to staking rewards. Crypto.com is involved as the custodian, while Foris DAX Trust Company will oversee security, highlighting a robust partnership that blends digital assets with traditional finance safeguards.
Separately, Canary Capital and Crypto.com submitted an S-1 for a spot CRO ETF. This fund aims to serve institutional investors seeking regulated and secure ways to gain exposure to CRO tokens, with Crypto.com managing custody and liquidity. This launch aligns with growing institutional demand for regulated crypto offerings and positions CRO as a potential mainstream institutional asset.
This strategic collaboration underscores a broader pattern in Canary Capital’s crypto ETF endeavors, which also include filings for assets such as XRP, Solana, and Litecoin. SEC’s prior approvals of some of these ETFs point to an increasing regulatory openness. However, the CRO ETFs remain under review, with no SEC confirmation yet.
Crypto.com President Eric Anziani emphasized ETFs’ role in expanding crypto participation by melding digital and traditional financial sectors. The proposed funds could significantly increase institutional inflows into CRO staking and pave the way for the acceptance of more staking-based financial products.
Pending SEC approval, the ETFs could broaden access to regulated digital finance products in the U.S., reinforcing investor confidence. Their approval might also influence the regulatory framework for future crypto ETFs and inspire similar projects for exchange-native tokens.