Canary Capital has filed with the SEC to create a new, unique crypto ETF called the Canary American-Made Crypto ETF (MRCA). The fund would track an index of digital assets that originate in the U.S., including those that are created, mined, or have a majority of their operations based in the country.
The company argues that U.S.-based projects may face fewer legal risks and could benefit from recent political shifts toward a more crypto-friendly environment.
The ETF, which is designed to provide direct exposure to these assets, also includes the potential for staking rewards from validating transactions.
While experts like Bloomberg analyst Eric Balchunas believe the success of existing spot ETFs has opened the door for more innovative products, it remains unclear which specific assets would qualify for the “Made-in-America” designation.
This filing is part of a broader trend by Canary, which has also proposed ETFs for other assets, including a Trump Coin ETF, as the crypto ETF market continues to expand.
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