Crypto.com and asset manager Canary Capital have announced the launch of a U.S.-based investment vehicle tied to the Cronos (CRO) token.
The newly established Canary CRO Trust will hold the native token of the Cronos blockchain in a regulated fund wrapper, the companies said in a joint statement. While the trust is not an exchange-traded fund (ETF), it is open to accredited investors and seeks to offer regulated exposure to the CRO asset.
“This initiative is part of our broader strategy to mainstream crypto through regulated investment products,” said Eric Anziani, President and COO of Crypto.com.
Cronos is a layer-1 blockchain that supports decentralized finance (DeFi), NFTs, and Web3 applications. It is interoperable with both Ethereum and Cosmos networks. As of mid-May, the blockchain boasts a total value locked (TVL) of nearly $440 million, with VVS Finance serving as its most-used DeFi application.
Although the CRO Trust is not an ETF, Crypto.com has previously attempted to introduce CRO-linked ETFs in the U.S. In March, it partnered with Trump Media & Technology Group to propose a line of Trump-branded ETFs, including one featuring CRO. These products are still awaiting SEC approval, with no CRO ETFs currently authorized for U.S. markets.
As of May 19, the market capitalization of the CRO token stood at approximately $880 million, according to Cointelegraph data. The fund launch comes amid rising interest in crypto investment products, especially following a perceived regulatory shift under President Trump, with over 70 new crypto ETFs reportedly under review.
Elsewhere, asset manager VanEck filed for an ETF based on Binance’s BNB token, while 21Shares debuted a CRO exchange-traded product (ETP) in Europe earlier this month.
Crypto.com’s latest move underscores growing institutional demand for regulated crypto exposure in the U.S. financial landscape.
