- Canary Capital has submitted an amendment filing with the U.S. Securities and Exchange Commission for its American-Made Crypto ETF that includes Bitcoin, Chainlink, XRP, Solana, and other cryptocurrencies.
- Canary Capital is expanding its influence in the crypto ETF market with recent application filings.
Canary Capital, a firm offering institutional crypto asset trading and management, has filed to amend its American-Made Crypto ETF. Bitcoin (BTC), Chainlink (LINK), XRP, and Solana (SOL) are among the cryptocurrencies included in the amended crypto ETF filing.
Canary Capital Submits Amended Document to U.S. SEC
Popular investor and entrepreneur Mark Chadwick revealed the development on X. He noted that Canary Capital submitted S-1 documents to the U.S. Securities and Exchange Commission (SEC). The filing is to amend its proposed American-Made Crypto exchange-traded fund (ETF).
The ETF product tracks the CoinDesk Made-in-America Index, which currently includes only assets that meet the new generic listing standards. The fund aims to provide investors with exposure to a basket of cryptocurrencies like Bitcoin, XRP, Litecoin, Avalanche, Chainlink and Hedera that are primarily operated in the U.S.
Notably, the amended S-1 registration statement specifies that the fund will hold the digital assets directly, instead of using derivatives. This structure makes it more straightforward and consistent with the dynamics of a spot crypto ETF.
For traditional investors, the fund allows them to gain diversified crypto exposure without needing to manage wallets or exchanges.
The ETF includes top cryptocurrencies, including Bitcoin (BTC), LINK, XRP, SOL, Hedera (HBAR), Litecoin (LTC), Stellar (XLM), and others. Note that the index constituents are weighted by market capitalization, with a 20% cap per asset and a 1% minimum weight.
In his post, Mark emphasized that approval for the amended filing could take weeks to months due to SEC review processes. It is only after the SEC approves that the investors can begin trading the Canary Capital’s American crypto ETFs.
If approved, the ETFs could boost liquidity for these aforementioned digital assets. Unsurprisingly, the amended application also followed the improvement in crypto exchange-traded products (ETPs).
As detailed in our last news piece, crypto ETPs saw inflows of $5.7 billion over the past week. This comes after four consecutive weeks of redemptions that drained $5.7 billion from Bitcoin and crypto ETPs.
Canary Growing its Institutional Bitcoin And Crypto Influence
Meanwhile, the amended filing indicates the continuous effort of Canary Capital to remain a top player in crypto ETFs. As we covered in our latest report, Canary launched new Solana ETFs, with ticker SOLC. The ETF opened trading on Tuesday, November 18, on Nasdaq, with strong first-day inflows.
Before SOLC began trading, Canary Capital gained automatic Nasdaq approval for its XRP ETF. The documents signed by CEO Steven McClurg confirmed that the shares will trade under the ticker XRPC.
As part of its efforts to expand into the crypto space, Canary’s staked SEI ETF moved to DTCC’s “Active & Pre-Launch” category. As we discussed earlier, this recognition signaled key operational steps toward a potential launch.
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