Crypto.com, Canary launch CRO fund in US

Crypto.com and the Canary Capital Asset Manager are launching an American investment fund to provide an exposition by the native Cronos Blockchain token, CRO, said the exchange of cryptocurrency.

Canary Cro Trust holds Cronos (Cro) Token in a regulated fund, crypto.com saidHe added that trust is not a fund traded (ETF) and is only available to accredited investors.

Creating regulated funds, such as CRO Trust, is part of the Crypto.com plan for “further mainstreaming crypto”, Eric Anziani, President and Cypto.com, President and Chief Operational Director of Crypto.com.

In March, Crypto Exchange teamed up with Trump Media & Technology Group, a company associated with US President Donald Trump to start a series of Trump-Brand ETF, including one holding CRO.

ETF Trump Media ETF is still waiting for the approval of the Securities and Stock Exchange Commission (SEC), which has not yet allowed any CRO ETF for American trading, crypto.com said.

Related: 21 Shares launches the ETP for the token Cronos Crypto.com

Cronos ecosystem

Cronos is the Layer-1 Blockchain network associated with Crypto.com. The string is designed to integrate with Ethereum and Cosmos ecosystems and support the applications of decentralized finance (defi), non -like tokens (NFT) and other web3 applications.

The chain has almost $ 440 million by total value (TVL), according to data from Defillas. His favorite application is VVS Finance, Defi platform for token swaps and profitable agriculture.

Token CRO has had a market capitalization of approximately $ 880 million since May 19, according to to the market data of Caintelegraph.

Altcoin ETF submission

Since Trump has entered the office in January, he has signaled a more crypt -friendly approach to regulate, which caused asset managers to try to List about 70 new Crypto ETF.

In May, the manager of the Vaneck was filed List ETF tied to another token associated to exchangeNative BNB bnb bnb. The chain is associated with binance, the largest centralized exchange in the world.

In the same month, 21shares launched in Europe a product traded (ETP) Exposure Offer Cro Cro.com token.

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