Grayscale Investments has submitted an utility to the U.S. Securities and Trade Fee (SEC) to launch an ETF tied to the efficiency of Canton Coin (CC). The submitting comes on the heels of its Hyperliquid staking ETF debut.
Grayscale Applies For Spot Canton ETF
The brand new fund, referred to as the “Grayscale Canton ETF,” could be a regulated funding fund that goals to provide traders publicity to Canton Coin. The submitting famous that the belief would maintain CC as a direct funding. Furthermore, it seeks to supply publicly-listed shares that may monitor the market’s efficiency of the token by way of the Canton ETF.
The appliance comes simply after Grayscale’s Hyperliquid staking ETF hit the market. The fund was authorized by the SEC and began buying and selling on June 3, and shortly garnered investor curiosity. The ETF has attracted nearly $5 million in web inflows in its first two buying and selling classes, in accordance with market information.
For context, the Canton Community is a monetary infrastructure-based blockchain platform with Canton Coin as its native token. The community’s aim is to combine conventional monetary methods with blockchain and supply enterprise customers with privateness choices.
Grayscale’s plan would contain traders shopping for publicity to Canton Coin by way of a software program design framework with out having to personal, retailer, or handle the precise digital asset. The belief’s belongings could be principally within the type of Canton Coin held for shareholders, the submitting provides.
Overview of Current Crypto ETF Launches
The Canton ETF registration doc is a part of a wave of crypto ETF purposes and launches during the last 12 months from Grayscale. The asset supervisor is steadily increasing its product lineup with main altcoin ETFs just like the HYPE staking ETF.
Alongside these traces, on Wednesday, Grayscale additionally revised its S-1 registration assertion for its spot BNB ETF. The modification got here shortly after asset supervisor VanEck launched its model of a BNB ETF.
Thus, specialists consider that Grayscale’s BNB ETF is probably getting into the subsequent part of the regulatory course of. Additionally, they’re hoping for a launch quickly.
Earlier, the agency had additionally launched its spot XRP ETF and Solana staking ETF.
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