Canary Capital Group Files for American-Made Crypto ETF Amid SEC Review
- Canary Capital Group has filed with the SEC to launch the Canary American-Made Crypto ETF (MRCA), which will track an index of US-based cryptocurrencies.
- The ETF will trade on Cboe BZX under the ticker MRCA and exclude stablecoins, memecoins, and pegged tokens.
- Assets in the index must meet strict criteria, including custody eligibility with a regulated US trust or bank and minimum liquidity.
- The fund plans to stake its proof-of-stake holdings through third-party providers, enhancing its net asset value.
- Related projects potentially included in the index are XRP, Solana, Dogecoin, Cardano, Chainlink, and Stellar.
This filing aligns with recent shifts in US crypto policy aimed at providing clearer guidelines for digital assets. The SEC’s ongoing review process for various ETFs continues to reflect a cautious approach toward cryptocurrency investments.
Canary’s proposed ETF aims to provide direct exposure to American-made cryptocurrencies while navigating regulatory challenges as it awaits SEC decisions on multiple filings by October of this year. (Source)
