Crypto giant Cronos buckles market slump on Friday, as asset manager Canary Capital petitions for CRO Exchange-Traded Fund (ETF) approval.
Revised Article
Hey there, crypto heads! Buckle up as we dive into the world of altcoins and trading. Cronos, the native asset of the Cronos layer-1 blockchain, took a leap against the sector-wide downturn today. You gotta check this out!
Canary Capital, a crypto asset manager, filed for a CRO-based exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), and that's shaking things up! This ETF, if approved, would offer investors a taste of CRO action while putting some rewards on the side thanks to staking[1][2].
The S-1 Form filing is just the latest move by Canary, who's on a mission to launch funds for Solana (SOL), XRP, Sui (SUI), Litecoin (LTC), Axelar (AXL), Hedera (HBAR), and Pudgy Penguins (PENGU)[1][2]. The SEC's green light for the first spot market Bitcoin (BTC) ETFs in January 2024[3], followed by Ethereum (ETH) ETFs last July[4], paved the way for this exciting venture. Two financial giants, Franklin Templeton and Hashdex, even launched joint BTC-ETH ETFs earlier this year[4].
Caught your attention? CRO is ticking at $0.102 at the moment, climbing more than 8% in the past 24 hours[1]. Meanwhile, the overall crypto market cap is slumping by over 4% in the same period[1]. Keep an eye on this one!
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[1] Stringer, D. (2025, May 31). Cronos Defies Downtick as Canary Capital Proposes CRO ETF with SEC. The Daily Hodl. Retrieved from https://thedailyhodl.com/cronos-defies-downtick-as-canary-capital-proposes-cro-etf-with-sec/
[2] Canary launches the CRO trust with Crypto.com. (n.d.). Retrieved from https://canarydigital.com/cro-trust/
[3] Coin Bureau. (2024). ProShares Bitcoin Strategy ETF. Retrieved from https://coinfreaksignals.com/what-is-the-proshares-bitcoin-strategy-etf/
[4] Invezz. (2023). What is the Ethereum ETF: How and where to buy or invest. Retrieved from https://www.invezz.com/news/cryptocurrency-news/what-is-the-ethereum-etf-summary/
In light of the CRO ETF proposal by Canary Capital, there might be increased interest in altcoins and other cryptocurrencies. This move could potentially open up new avenues for investing in the blockchain-based finance sector, diversifying portfolios beyond Bitcoin (BTC) and Ethereum (ETH).
As Canary aims to expand its fund offerings to include Solana (SOL), XRP, Sui (SUI), Litecoin (LTC), Axelar (AXL), Hedera (HBAR), and Pudgy Penguins (PENGU), the digital asset industry is gearing up for some significant changes. As more institutional investment flows into cryptocurrency, opportunities for both investors and the wider blockchain community may grow exponentially.
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