CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

CoinTelegraph 2025-05-19 18:30:00

Crypto.com and Canary Capital to launch US CRO fund

Crypto.com and asset manager Canary Capital are launching a US investment fund designed to provide exposure to the Cronos blockchain’s native token, CRO, the cryptocurrency exchange said in a statement. The Canary CRO Trust will hold the Cronos ( CRO ) token in a regulated fund wrapper, Crypto.com said , adding that the trust is not an exchange-traded fund (ETF) and is only available to accredited investors. Creating regulated funds such as CRO Trust is part of Crypto.com’s plan for “further mainstreaming crypto,” Eric Anziani, president and chief operating officer of Crypto.com, said in a statement. In March, the crypto exchange partnered with Trump Media & Technology Group, a company affiliated with US President Donald Trump, to launch a series of Trump-branded ETFs, including one holding CRO. The Trump Media ETFs are still awaiting approval from the US Securities and Exchange Commission (SEC), which has not yet authorized any CRO ETFs for US trading, Crypto.com said . Cronos has a total value locked of nearly $440 million. Source: DefiLlama Related: 21Shares launches ETP for Crypto.com's Cronos token Cronos ecosystem Cronos is a layer-1 blockchain network affiliated with Crypto.com. The chain is designed to integrate with the Ethereum and Cosmos ecosystems and support decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and other Web3 applications. The chain has a total value locked (TVL) of nearly $440 million, according to data from DefiLlama. Its most popular application is VVS Finance, a DeFi platform for token swaps and yield farming. The CRO token has a market capitalization of roughly $880 million as of May 19, according to Cointelegraph’s market data. Altcoin ETF filings Since Trump took office in January, he has signaled a more crypto-friendly approach to regulation, prompting asset managers to seek to list roughly 70 new crypto ETFs . In May, asset manager VanEck filed to list an ETF tied to another exchange-affiliated token , BNB Chain’s native BNB. The chain is affiliated with Binance, the world’s largest centralized exchange. The same month, 21Shares launched an exchange-traded product (ETP) in Europe offering exposure to Crypto.com’s CRO token . Magazine: Rise of MicroStrategy clones, Asia dominates crypto adoption: Asia Express 2024 review

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.