Cronos defied a sector-wide downtick on Friday after the crypto asset supervisor Canary Capital filed for a CRO-based exchange-traded fund (ETF).
CRO is the native asset of the Cronos layer-1 blockchain, which was developed by the alternate Crypto.com.
Canary filed an S-1 Type with the U.S. Securities and Alternate Fee (SEC), proposing an ETF that may supply buyers publicity to CRO. If permitted, the product would additionally stake a portion of its CRO holdings to earn rewards.
The brand new S-1 assertion represents the most recent in a spree of latest ETF filings for Canary, which can be trying to launch Solana (SOL), XRP, Sui (SUI), Litecoin (LTC), Axelar (AXL), Hedera (HBAR) and Pudgy Penguins (PENGU) funds.
The SEC greenlit the primary spot market Bitcoin (BTC) ETFs in January 2024, bringing in billions of {dollars} price of inflows to the highest digital asset by market cap. The regulator subsequently permitted Ethereum (ETH) ETFs for buying and selling final July. Two monetary corporations, Franklin Templeton and Hashdex, additionally launched joint BTC-ETH ETFs earlier this 12 months.
CRO is buying and selling at $0.102 at time of writing and is up greater than 8% prior to now 24 hours. By comparability, the general crypto market cap slumped by greater than 4% over the identical interval.
Observe us on X, Fb and Telegram
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Verify Worth Motion
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual threat, and any losses you might incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in online marketing.
Generated Picture: Midjourney
