Source: Cointelegraph
Original: “Crypto.com and Canary Capital to Launch US Cronos (CRO) Fund”
Crypto.com and asset management firm Canary Capital are launching a US investment fund aimed at providing investment opportunities in the native token CRO of the Cronos blockchain, the cryptocurrency exchange announced in an official statement.
According to Crypto.com, the Canary CRO Trust will hold Cronos (CRO) tokens within a regulated fund framework. The company specifically emphasized that this trust product is not an exchange-traded fund (ETF) and is only open for subscription to qualified investors.
Eric Anziani, President and COO of Crypto.com, stated in the official announcement that launching regulated funds like the CRO Trust is an important part of Crypto.com's strategy to "further drive cryptocurrency into the mainstream."
In March of this year, the cryptocurrency exchange partnered with Trump Media & Technology Group, associated with US President Donald Trump, to jointly launch a series of Trump-branded ETF products, including an investment fund holding CRO tokens.
Crypto.com stated that the Trump media series ETFs are currently awaiting approval from the US Securities and Exchange Commission (SEC), and to date, the SEC has not approved any CRO token ETFs for trading in the US market.
The total value locked in Cronos is nearly $440 million. Source: DefiLlama
Cronos is a layer-1 blockchain network associated with Crypto.com. The chain is designed to integrate with the Ethereum and Cosmos ecosystems and supports decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and other Web3 applications.
According to data from DefiLlama, the total value locked (TVL) in the chain is close to $440 million. Its most popular application is VVS Finance, a DeFi platform focused on token swapping and yield farming.
According to Cointelegraph market data reports, as of May 19, the market capitalization of the CRO token is approximately $880 million.
Since Trump took office in January, he has signaled a more favorable attitude toward cryptocurrency regulation, prompting asset management firms to apply for listings of about 70 new cryptocurrency ETFs.
In May of this year, asset management giant VanEck submitted an application to list an ETF linked to another exchange-associated token—the native token BNB of the BNB Chain, which is associated with the world's largest centralized exchange, Binance.
In the same month, 21Shares launched an exchange-traded product (ETP) in Europe, providing investors with a channel to access investments in Crypto.com's CRO token.
Related: US cryptocurrency fund inflows to exceed $7.5 billion by 2025, investor enthusiasm high
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