Grayscale Investments has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch an ETF tied to the performance of Canton Coin (CC). The filing comes on the heels of its Hyperliquid staking ETF debut.
Grayscale Applies For Spot Canton ETF
The new fund, called the “Grayscale Canton ETF,” would be a regulated investment fund that aims to give investors exposure to Canton Coin. The filing noted that the trust would hold CC as a direct investment. Moreover, it seeks to offer publicly-listed shares that would track the market’s performance of the token via the Canton ETF.
The application comes just after Grayscale’s Hyperliquid staking ETF hit the market. The fund was approved by the SEC and started trading on June 3, and soon garnered investor interest. The ETF has attracted almost $5 million in net inflows in its first two trading sessions, according to market data.
For context, the Canton Network is a financial infrastructure-based blockchain platform with Canton Coin as its native token. The network’s goal is to integrate traditional financial systems with blockchain and provide enterprise users with privacy options.
Grayscale’s plan would involve investors buying exposure to Canton Coin via a software design framework without having to own, store, or manage the actual digital asset. The trust’s assets would be mostly in the form of Canton Coin held for shareholders, the filing adds.
Overview of Recent Crypto ETF Launches
The Canton ETF registration document is part of a wave of crypto ETF applications and launches over the last 12 months from Grayscale. The asset manager is steadily expanding its product lineup with major altcoin ETFs like the HYPE staking ETF.
Along these lines, on Wednesday, Grayscale also revised its S-1 registration statement for its spot BNB ETF. The amendment came shortly after asset manager VanEck launched its version of a BNB ETF.
Thus, experts believe that Grayscale’s BNB ETF is potentially entering the next phase of the regulatory process. Also, they are hoping for a launch soon.
Earlier, the firm had also introduced its spot XRP ETF and Solana staking ETF.
For DeFi-linked crypto borrowing, visit our list of Top DeFi Lending Platforms.
