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 trade Crypto.com.
Canary filed an S-1 Type with the U.S. Securities and Trade Fee (SEC), proposing an ETF that might provide traders publicity to CRO. If accepted, 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 also 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} value of inflows to the highest digital asset by market cap. The regulator subsequently accepted Ethereum (ETH) ETFs for buying and selling final July. Two monetary companies, 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% previously 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 e mail alerts delivered on to your inbox
Test Worth Motion
Surf The Every day Hodl Combine
 
Disclaimer: Opinions expressed at The Every day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any losses you could incur are your duty. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please notice that The Every day Hodl participates in internet online affiliate marketing.
Generated Picture: Midjourney
Discussion about this post