Canary Capital files S-1 with U.S. SEC for Staked Cronos ETF

Canary Capital has filed an S-1 form with the U.S. Securities and Exchange Commission for Staked Cronos exchange-traded fund.

On May 30, Canary Capital Group LLC has filed an S-1 registration statement with the U.S. SEC for the Canary Staked CRO ETF. This ETF will allow investors to gain exposure to Cronos (CRO), Crypto.com’s native token, without having to buy or manage the asset directly.

The fund’s primary goal is to track the price of CRO held in custody, minus the fund’s expenses. It will also stake a portion of its CRO holdings on the Cronos proof-of-stake blockchain to earn additional CRO rewards. The fund will calculate its net asset value daily, based on a pricing benchmark that gathers CRO prices from multiple digital asset exchanges to reflect the market value accurately.

The ETF’s CRO assets will be held by Foris DAX Trust Company dba Crypto.com Custody Trust Company, which provides secure, offline storage and carries private insurance against theft or loss. This custody is not insured by the FDIC. Unlike some crypto investment products, the Canary Staked CRO ETF will not use leverage, derivatives, or loan its assets.

This latest filing comes on the heels of Crypto.com’s earlier partnership with Canary Capital Group to launch the Canary CRO Trust, which allowed qualified U.S. investors to hold CRO in a secure and regulated environment.

Earlier this year, Crypto.com also teamed up with 21Shares to offer a regulated CRO ETP listed in Europe. It’s now available on Euronext Paris and Amsterdam under the ticker CRON.