CRO hits US market with new Crypto.com and Canary Capital trust

CRO hits US market with new Crypto.

• The trust offers US-regulated exposure to Crypto.com’s native token, CRO.
• It reflects growing interest in altcoin investment vehicles amid regulatory shifts.

What happened: Launch of the first US-regulated CRO fund

Crypto.com and asset manager Canary Capital have launched the Canary CRO Trust, a regulated fund that holds the CRO token. This is the first fund of its kind in the United States. It is not an ETF and is open only to accredited investors.

The trust aims to give investors a safer way to access Cronos, the blockchain tied to Crypto.com. Eric Anziani, president and COO of Crypto.com, said the launch supports their goal of bringing crypto further into the mainstream.

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Why it’s important

More crypto funds are entering the market, as the US shows signs of easing its stance on digital assets. While the SEC has not yet approved any CRO-based ETFs, this new trust could pave the way for wider adoption.

Cronos supports DeFi apps, NFTs, and Web3 projects. It currently has about $440 million locked in its ecosystem, according to DefiLlama. The trust may attract more institutional interest, especially as investors look for regulated ways to join the altcoin market.