Digital asset manager Canary Capital has filed for a new exchange-traded fund (ETF) named the Canary American-Made Crypto ETF.
According to the filing, the ETF would list on the Cboe BZX Exchange using the ticker MRCA, subject to regulatory approval. The fund will hold coins invented, mined, or dominated in the U.S.
The ETF makes it possible for investors to tap crypto markets using a regular brokerage account without having to purchase or hold digital coins directly. The product promotes the “America-first” investing trend, targeting only U.S.-based crypto initiatives.
Shares will trade like a regular ETF, but the fund is not covered by traditional investment protections. It is considered high-risk and speculative, and investors could lose their entire investment. Authorized Participants can create or redeem shares using cash or crypto assets.
Commenting on the filing, analyst Eric Balchunas said it’s unclear which coins would qualify for the ETF and noting that major coins like Bitcoin, which was invented in the U.S., might be included. The ETF is now awaiting SEC approval and will begin trading once the registration becomes effective.
In addition, Canary Capital has filed a new fund in Delaware named the Canary Trump Coin ETF, formally created on August 13. It also has submitted the Canary Staked Injective ETF, which will list on the Cboe BZX exchange subject to approval from the SEC.
Canary Capital is aggressively building out its crypto ETF line, focusing on U.S.-centric investments while venturing into new products such as staking-based exposure.
Also Read: Grayscale, Bitwise and Others File Updates for Spot XRP ETFs
