CRO ETF? Canary Capital Files for US Cronos Fund as Altcoin Interest Intensifies

Canary Capital Applies for CRO ETF, Joining Altcoin Fund Trend

Canary Capital, a crypto asset manager, has filed for an exchange-traded fund (ETF) that tracks Cronos (CRO), the token affiliated with the Crypto.com exchange, according to a recent Securities and Exchange Commission (SEC) filing. This move adds to the growing list of altcoin-based funds seeking regulatory approval in the United States.

The S-1 registration form marks Canary Capital's latest step toward potentially debuting its Canary Stake CRO ETF in the U.S. market. The issuer registered a Delaware Trust entity earlier this month, laying the legal groundwork for the fund.

Cronos, the 44th-largest cryptocurrency by market capitalization, was recently trading at $0.10, up 5.5% in the past 24 hours, according to data from CoinGecko.

The CRO ETF filing is part of a wave of applications for funds based on popular altcoins. These submissions follow the success of spot Bitcoin ETFs, such as BlackRock's iShares Bitcoin Trust ETF, which has attracted a record-breaking $6.22 billion in investments as of May.

Other proposed funds include those tracking Solana, Dogecoin, Bonk, Official Trump, and even the Ethereum NFT collection Pudgy Penguins and its associated PENGU token on Solana.

Meanwhile, the SEC has extended its deadlines to approve or reject applications for SOL, XRP, and DOGE ETFs over the past few months.

In related news, Trump Media & Technology Group, the parent company of the Truth Social media platform, has announced a partnership with Crypto.com to invest up to $250 million in ETFs and separately managed accounts tracking cryptocurrency and energy securities.

Earlier this year, Crypto.com proposed resurrecting billions of burned Cronos tokens to fund a non-binding agreement with Trump Media & Technology Group, which has links to U.S. President Donald Trump and other members of the First Family. In March, the companies signaled plans to make ETFs based on Cronos, Bitcoin, and equities for "diverse industries such as energy" available to investors.