Canary Files for US-Focused Crypto ETF

Canary Capital has made another crypto-related filing with the U.S. Securities and Exchange Commission (SEC).

The firm has applied for an ‘American-Made Crypto ETF,’ which will include digital assets with ties to the United States.

Made-in-America ETF

A recent document shows that the asset manager has lodged an S-1 registration statement with the SEC to launch the Canary American-Made Crypto ETF (MRCA). The proposed fund will focus on projects in the Made-in-America Blockchain Index.

Nate Geraci, president of NovaDius Wealth Management, explained that this will include crypto assets that originate in the U.S., coins where the majority of their supply is minted in the country, through their native validation mechanism, and ones where the majority of the protocol’s operations are in the region. He added that “next year’s gonna be wild,” referencing the upcoming developments in the ETF market.

Bloomberg analyst Eric Balchunas also commented on the company’s submission, noting that the success of current crypto ETFs has opened the door to a wave of creative combinations. However, he admitted it’s unclear which coins would qualify for the Made-in-America ETF.

Canary shared that custody will be handled by a South Dakota-chartered trust company, while CSC Delaware Trust Company will serve as the fund’s trustee. The shares are expected to trade on Cboe BZX under the MRCA ticker. The asset manager also indicated that the trust may seek to generate staking rewards by validating transactions on the respective blockchain networks of the portfolio digital assets.

U.S. Crypto ETFs to Gain from Favorable Policies

In its filing, Canary Capital proposes that U.S.-based crypto projects may be better positioned due to increasing regulatory clarity and political support, especially following recent pro-crypto initiatives under President Donald Trump. The firm suggests that projects with strong American ties are more likely to engage constructively with regulators, potentially reducing legal risks.

The American-Made Crypto ETF represents the latest in a long list of crypto funds that the asset manager is looking to offer. This development follows another application for a Trump Coin ETF, tied to the President’s meme coin launched in January 2025. The company has also lodged for such investment products linked to Solana (SOL), Ripple’s XRP, SUI, and Tron (TRX), all of which are currently under SEC review.

Elsewhere, experts have predicted an upcoming surge in approvals for these funds over the next two months. Geraci pointed to several factors driving the optimism, including the nearing completion of a full regulatory framework for spot crypto ETFs and a clearer regulatory landscape.

This occurs against a backdrop of good performance for these investment products so far in 2025. A recent report revealed that crypto-related offerings now make up 10 of the top 20 ETFs in the overall market based on inflows.

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