Canary Capital Files to Launch an Axelar ETF
Canary Capital, an investment firm specializing in digital assets and founded by former Valkyrie Funds co-founder Steven McClurg, is preparing to launch an exchange-traded fund that tracks the price of Axelar (AXL).
The firm initiated the process by submitting an S-1 filing with the Securities and Exchange Commission (SEC) on Wednesday.
This step is part of the firm’s broader efforts, as it has previously filed paperwork for several other ETFs, some of which have been acknowledged by the Commission and are awaiting approval.
“Axelar boasts one of the strongest development teams in blockchain, and most viable protocols collaborate with them on chain interoperability,” said Steven McClurg, CEO of Canary Capital. “There’s no doubt that AXL will become a top 20 token by market capitalization as the market becomes more aware of them. That’s why we took the risk.”
