Crypto.com and Canary Capital to launch US CRO fund

Crypto.com and plus manager Canary Capital are launching a US concern money designed to supply vulnerability to the Cronos blockchain’s autochthonal token, CRO, the cryptocurrency speech said successful a statement.

The Canary CRO Trust volition clasp the Cronos (CRO) token successful a regulated money wrapper, Crypto.com said, adding that the spot is not an exchange-traded money (ETF) and is lone disposable to accredited investors. 

Creating regulated funds specified arsenic CRO Trust is portion of Crypto.com’s program for “further mainstreaming crypto,” Eric Anziani, president and main operating serviceman of Crypto.com, said successful a statement.

In March, the crypto speech partnered with Trump Media & Technology Group, a institution affiliated with US President Donald Trump, to motorboat a bid of Trump-branded ETFs, including 1 holding CRO.

The Trump Media ETFs are inactive awaiting support from the US Securities and Exchange Commission (SEC), which has not yet authorized immoderate CRO ETFs for US trading, Crypto.com said.

Cronos has a full worth locked of astir $440 million. Source: DefiLlama

Related: 21Shares launches ETP for Crypto.com's Cronos token

Cronos ecosystem

Cronos is simply a layer-1 blockchain web affiliated with Crypto.com. The concatenation is designed to integrate with the Ethereum and Cosmos ecosystems and enactment decentralized concern (DeFi) applications, non-fungible tokens (NFTs), and different Web3 applications.

The concatenation has a full worth locked (TVL) of astir $440 million, according to data from DefiLlama. Its astir fashionable exertion is VVS Finance, a DeFi level for token swaps and output farming.

The CRO token has a marketplace capitalization of astir $880 cardinal arsenic of May 19, according to Cointelegraph’s marketplace data. 

Altcoin ETF filings

Since Trump took bureau successful January, helium has signaled a much crypto-friendly attack to regulation, prompting plus managers to question to list astir 70 caller crypto ETFs.

In May, plus manager VanEck filed to list an ETF tied to different exchange-affiliated token, BNB Chain’s autochthonal BNB. The concatenation is affiliated with Binance, the world’s largest centralized exchange.

The aforesaid month, 21Shares launched an exchange-traded merchandise (ETP) successful Europe offering vulnerability to Crypto.com’s CRO token. 

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