Crypto.com and asset manager Canary Capital are launching a US investment fund designed to provide exposure to the Cronos blockchain\u2019s native token, CRO, the cryptocurrency exchange said in a statement.<\/p>\n
The Canary CRO Trust will hold the Cronos (CRO<\/a>) token in a regulated fund wrapper, Crypto.com said<\/a>, adding that the trust is not an exchange-traded fund (ETF) and is only available to accredited investors.\u00a0<\/p>\n Creating regulated funds such as CRO Trust is part of Crypto.com\u2019s plan for \u201cfurther mainstreaming crypto,\u201d Eric Anziani, president and chief operating officer of Crypto.com, said in a statement.<\/p>\n 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.<\/p>\n 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<\/a>. <\/p>\n Cronos has a total value locked of nearly $440 million. Source: <\/em>DefiLlama<\/em><\/a><\/p>\n Related: <\/strong><\/em>21Shares launches ETP for Crypto.com’s Cronos token<\/strong><\/em><\/a><\/p>\n Cronos is a layer-1 blockchain network affiliated with Crypto.com.\u00a0The 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. <\/p>\n The chain has a total value locked (TVL) of nearly $440 million, according to\u00a0data<\/a>\u00a0from DefiLlama. Its most popular application is VVS Finance, a DeFi platform for token swaps and yield farming.<\/p>\n The CRO token has a market capitalization of roughly $880 million as of May 19, according<\/a> to Cointelegraph\u2019s market data.\u00a0<\/p>\n 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<\/a>.<\/p>\n In May, asset manager VanEck filed to list an ETF tied to another exchange-affiliated token<\/a>, BNB Chain\u2019s native BNB. The chain is affiliated with Binance, the world\u2019s largest centralized exchange.<\/p>\n The same month, 21Shares launched an exchange-traded product (ETP) in Europe offering exposure to Crypto.com\u2019s CRO token<\/a>.\u00a0<\/p>\nCronos ecosystem<\/h3>\n
Altcoin ETF filings<\/h3>\n