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ETF Issuer Avoids Dogecoin Eyes Solana

Canary Capital Avoids Dogecoin ETF Amid Solana and XRP Plans

  • Canary Capital has no plans to launch a spot Dogecoin ETF due to its unlimited supply and lack of utility.

  • Dogecoin is the eighth-largest cryptocurrency by market cap, trading at approximately $0.25.

  • The firm has filed to launch spot funds for Solana, XRP, Litecoin, and HBAR.

  • Dogecoin lacks a supply limit, contrasting with cryptocurrencies like Bitcoin and XRP.

  • Solana is seen as having more utility, used for transactions and decentralized applications.

Canary Capital CEO Steven McClurg stated that Dogecoin’s design to increase in supply makes it unsuitable for an ETF. The firm focuses on cryptocurrencies like Solana that offer more substantial utility.

Source (2.6)https://decrypt.co/305106/why-etf-issuer-canary-capital-wont-touch-dogecoin?rand=52368
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