Canary Seeks SEC Nod for ‘American-Made’ Spot Crypto ETF

Canary Capital has filed an S-1 registration statement with the U.S. Securities and Exchange Commission seeking approval for the “Canary American-Made Crypto ETF,” a spot exchange-traded fund that would invest exclusively in cryptocurrencies created in the United States and whose mining or other core operations are chiefly conducted domestically. The company positions the product as the first ETF to restrict holdings to “American-made” digital assets, a structure that could appeal to investors looking to align crypto exposure with domestic interests amid heightened scrutiny of overseas mining operations.

The application underscores a new phase of product innovation following the success of spot Bitcoin and Ether ETFs earlier this year. Bloomberg ETF analyst Eric Balchunas said the filing illustrates how issuers are experimenting with “every combo imaginable” to capture demand. A wave of leveraged, actively managed and thematic crypto ETF proposals has reached the SEC ahead of an October window when market participants anticipate the next batch of approvals. Canary’s bid adds to that queue, highlighting intensifying competition to differentiate offerings in a rapidly expanding market.

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