Crypto.com, Canary launch CRO fund in US
Crypto.com and Canary Capital are launching the Canary CRO Trust, a US investment fund providing exposure to the Cronos blockchain's native token, CRO. The trust will hold CRO in a regulated fund wrapper and is available only to accredited investors, not as an exchange-traded fund (ETF). This initiative aligns with Crypto.com's strategy to mainstream cryptocurrency. In March, Crypto.com partnered with Trump Media & Technology Group to create Trump-branded ETFs, including one for CRO, which are pending approval from the SEC. Cronos is a layer-1 blockchain designed for integration with Ethereum and Cosmos, supporting DeFi applications and NFTs, with a total value locked of nearly $440 million. The CRO token has a market capitalization of approximately $880 million. Since January, Trump's administration has indicated a more crypto-friendly regulatory approach, leading to increased interest in crypto ETFs.
