Canary Capital has officially filed for a new American-Made Crypto ETF with the U.S. Securities and Exchange Commission (SEC). This innovative exchange-traded fund will focus on digital assets that have strong ties to the United States, potentially including XRP, Solana (SOL), and Cardano (ADA).
According to the filing, the ETF will trade on the Cboe BZX Exchange, pending a 19b-4 application. The fund will be benchmarked against the Made-in-America Blockchain Index, which tracks coins that were either originally developed in the U.S., have the majority of their supply minted in the U.S. through their validation mechanisms, or where most of the protocol’s operations take place domestically.
While Canary Capital has not yet disclosed the ETF’s custodian, it confirmed CSC Delaware Trust Company as trustee. The filing also suggests that the fund may explore staking opportunities by validating transactions on the underlying blockchain networks of the included assets.
This move adds to Canary’s growing list of crypto ETF applications, which already includes filings for XRP, Litecoin, Hedera, PENGU, and Injective ETFs. The firm has also hinted at the possibility of a Trump Coin ETF after registering the asset in Delaware.
Market analysts see this as part of a broader trend of diversification in crypto ETFs. Bloomberg’s Eric Balchunas highlighted that the American-Made Crypto ETF would only hold coins that meet Canary’s strict criteria. He also noted that, following the success of existing crypto ETFs, more “creative combinations” of funds are likely to emerge in the near future.
Coins like XRP, Solana, and Cardano appear to fit Canary’s requirements, while the status of Bitcoin (BTC) remains less clear. Although BTC may not fully meet the “origin” criteria, a large portion of its supply has historically been mined in the U.S., leaving the door open for its inclusion.
