Cronos Defies Crypto Market Downtick on Friday As Asset Manager Canary Capital Files for CRO ETF

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Daily Hodl2025/05/30 16:00

By:by Daily Hodl Staff

Cronos defied a sector-wide downtick on Friday after the crypto asset manager Canary Capital filed for a CRO -based exchange-traded fund (ETF).

CRO is the native asset of the Cronos layer-1 blockchain, which was developed by the exchange Crypto.com.

Canary filed an S-1 Form with the U.S. Securities and Exchange Commission (SEC), proposing an ETF that would offer investors exposure to CRO. If approved, the product would also stake a portion of its CRO holdings to earn rewards.

The new S-1 statement represents the latest in a spree of recent ETF filings for Canary, which is also attempting to launch Solana ( SOL ), XRP , Sui ( SUI ), Litecoin ( LTC ), Axelar ( AXL ), Hedera ( HBAR ) and Pudgy Penguins ( PENGU ) funds.

The SEC greenlit the first spot market Bitcoin ( BTC ) ETFs in January 2024, bringing in billions of dollars worth of inflows to the top digital asset by market cap. The regulator subsequently approved Ethereum ( ETH ) ETFs for trading last July. Two financial firms, Franklin Templeton and Hashdex, also launched joint BTC-ETH ETFs earlier this year.

CRO is trading at $0.102 at time of writing and is up more than 8% in the past 24 hours. By comparison, the overall crypto market cap slumped by more than 4% over the same period.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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