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NEW YORK - Canary Capital Group LLC, an investment firm specializing in digital assets, has filed with the U.S. Securities and Exchange Commission (SEC) to introduce the first spot exchange-traded fund (ETF) in the United States based on CRO, the native cryptocurrency of the Cronos (NASDAQ:CRON) network.
The proposed ETF is designed to offer investors in the U.S. direct exposure to the CRO token’s price movements.
Crypto.com, a major player in the cryptocurrency space, is set to act as the custodian and liquidity provider for the fund, reflecting a growing trend of collaboration between traditional financial institutions and the emerging digital asset industry.
The submission of the S-1 registration statement represents a significant development for Canary Capital, coming on the heels of its partnership with Crypto.com to create the Canary CRO Trust. This trust was established as the first private investment vehicle for CRO, targeting U.S. accredited investors.
Eric Anziani, President and COO of Crypto.com, expressed enthusiasm over the new initiative, highlighting the role of ETFs in expanding investor access to cryptocurrencies and bridging the gap between digital and conventional financial services.
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