The cryptocurrency landscape in the United States is evolving rapidly, with new regulated investment vehicles emerging to meet growing institutional and accredited investor demand. In a landmark development, Crypto.com and asset management firm Canary Capital have announced the launch of the first U.S.-based regulated investment fund dedicated to holding Cronos (CRO) — the native token of the Cronos blockchain.
This new offering, known as the Canary CRO Trust, marks a significant milestone in the broader adoption of exchange-linked cryptocurrencies within traditional finance frameworks.
A Regulated Pathway for CRO Exposure
The Canary CRO Trust is designed to provide qualified investors with a secure, compliant, and transparent way to gain exposure to CRO, without the complexities of self-custody or navigating unregulated markets. Unlike exchange-traded funds (ETFs), which are available to retail investors and trade on public exchanges, this trust operates under a private placement structure and is accessible only to accredited investors.
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According to Crypto.com’s official announcement, the trust will hold CRO tokens directly, ensuring full backing of shares by the underlying asset. While it functions similarly to an ETF in terms of price tracking, its structure avoids the need for immediate SEC approval — a major hurdle that has stalled many similar products.
Eric Anziani, President and Chief Operating Officer at Crypto.com, emphasized that the launch of the CRO Trust aligns with the company's long-term vision: "Bringing crypto into the mainstream requires innovation not just in technology, but in financial products. This trust is a step toward making digital assets more accessible through regulated channels."
Cronos Blockchain: Powering Web3 Innovation
To understand the significance of this fund, it’s essential to explore the ecosystem behind CRO — the Cronos blockchain.
Cronos is a Layer-1 blockchain developed in close alignment with Crypto.com, designed to support fast, low-cost transactions while maintaining compatibility with both the Ethereum Virtual Machine (EVM) and the Cosmos SDK. This dual compatibility enables seamless interoperability across two of the largest decentralized ecosystems, allowing developers to port DeFi applications, NFT platforms, and other Web3 tools with ease.
As of the latest data from DefiLlama, the total value locked (TVL) in Cronos-based protocols stands at nearly $440 million, reflecting steady growth in user adoption and developer activity.
One of the most prominent applications on the network is VVS Finance, a decentralized exchange (DEX) that offers automated market-making, liquidity pools, and yield farming opportunities. Other notable projects include gaming platforms, cross-chain bridges, and NFT marketplaces — all contributing to a vibrant and expanding ecosystem.
With a current market capitalization of approximately $880 million (as reported by Cointelegraph on May 19), CRO remains one of the more actively used exchange-native tokens in the crypto space.
The Rise of Exchange-Linked Token Funds
The Canary CRO Trust arrives amid a broader surge in interest around exchange-specific cryptocurrency funds. Since early 2025, there has been a noticeable uptick in filings and product launches tied to native tokens like BNB, OKB, and now CRO.
This trend follows a shift in regulatory sentiment under recent U.S. administration policies. Since January 2025, there have been clear signals of a more supportive stance toward digital assets, prompting asset managers to file over 70 new crypto ETF applications with the Securities and Exchange Commission (SEC).
For example:
- In May 2025, VanEck submitted an application for a BNB-linked ETF, aiming to offer exposure to Binance’s native token.
- Around the same time, 21Shares launched a regulated ETP in Europe that includes CRO holdings, catering to institutional demand outside the U.S.
However, despite these developments, no CRO-based ETF has yet received SEC approval for public trading in the United States. That makes the Canary CRO Trust a pioneering alternative — providing accredited investors access to CRO within a compliant framework while bypassing the lengthy ETF approval process.
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Why This Matters for Investors
For sophisticated investors, the emergence of regulated trusts like the Canary CRO Trust offers several advantages:
- Regulatory clarity: Operates under existing securities laws, reducing legal uncertainty.
- Transparency: Regular reporting and third-party custody enhance trust.
- Exposure without custody risk: Investors gain price exposure without managing private keys.
- Portfolio diversification: Adds a high-potential Layer-1 ecosystem token to diversified digital asset allocations.
While retail investors cannot currently participate directly, such products often pave the way for future ETF approvals — meaning wider accessibility could follow if demand and regulatory conditions align.
Frequently Asked Questions (FAQ)
Q: What is the Canary CRO Trust?
A: It’s a U.S.-based, SEC-compliant investment trust that holds Cronos (CRO) tokens and is available exclusively to accredited investors.
Q: Is this a Crypto.com ETF?
A: No. The Canary CRO Trust is not an ETF. It’s a privately offered trust product that does not trade on public exchanges.
Q: Can anyone invest in the Canary CRO Trust?
A: No. Only accredited investors — individuals or institutions meeting specific income or net worth requirements — can participate.
Q: Has the SEC approved a CRO ETF?
A: As of mid-2025, no CRO-linked ETF has been approved by the SEC for public trading in the U.S.
Q: What is the difference between CRO and Cronos Chain?
A: CRO is the native utility and governance token of the Cronos blockchain. The chain itself is a Layer-1 network supporting DeFi, NFTs, and Web3 apps.
Q: How does this benefit the broader crypto market?
A: It legitimizes exchange-linked tokens as viable investment assets and strengthens bridges between traditional finance and decentralized ecosystems.
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Looking Ahead
The launch of the Canary CRO Trust underscores a pivotal shift: cryptocurrencies are no longer just speculative assets traded on exchanges — they’re becoming foundational components of structured financial products. With increasing institutional interest and evolving regulatory frameworks, 2025 may be remembered as the year when exchange-native tokens began their journey into mainstream finance.
As more players enter this space and regulatory clarity improves, products like the Canary CRO Trust could serve as blueprints for future innovations — ultimately expanding access, enhancing transparency, and accelerating global crypto adoption.
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