Crypto.web, a leading cryptocurrency exchange, has partnered with asset manager Canary Capital to introduce the Canary CRO Trust, a US-based investment fund providing exposure to the Cronos blockchain’s native token, CRO. This announcement was made official through a recent company statement.
Key Details of the Canary CRO Trust
Fund Structure: The Canary CRO Trust is a regulated investment fund that holds CRO tokens within a compliant fund wrapper.
Investor Eligibility: The fund is exclusively available to accredited investors and is not structured as an exchange-traded fund (ETF).
Objective: The fund aims to offer a regulated and secure way for US investors to gain direct exposure to CRO, aligning with Crypto.com’s broader strategy to mainstream cryptocurrency investments.
Eric Anziani, President and Chief Operating Officer of Crypto.web, emphasized that the creation of such regulated funds is a critical step toward integrating crypto assets into traditional financial markets.
Background on CRO and Cronos Blockchain
Cronos is a layer-1 blockchain developed by Crypto.com, designed to support decentralized finance (DeFi), non-fungible tokens (NFTs), and other Web3 applications. It is interoperable with Ethereum and Cosmos ecosystems, enhancing its utility and adoption.
Total Value Locked (TVL): Approximately $440 million, according to DefiLlama.
Market Capitalization: CRO token’s market cap stands near $880 million as of May 19, 2025.
Popular Applications: VVS Finance, a DeFi platform for token swaps and yield farming, is the most widely used application on Cronos.
Regulatory Context and Related Developments
Crypto.web previously partnered with Trump Media & Technology Group to propose Trump-branded ETFs, including one featuring CRO tokens. However, these ETFs are still pending approval from the US Securities and Exchange Commission (SEC), which has yet to authorize any CRO-based ETFs for trading in the US.
The regulatory environment has seen increased activity, with asset managers filing for multiple crypto ETFs since early 2025. For example:
- VanEck filed for an ETF linked to Binance’s BNB token.
- 21Shares launched an exchange-traded product (ETP) in Europe offering exposure to CRO.
- These developments reflect growing institutional interest in regulated crypto investment vehicles.
Summary
The launch of the Canary CRO Trust marks a significant milestone in providing US accredited investors with regulated access to the CRO token. This initiative complements Crypto.web’s ongoing efforts to integrate cryptocurrency assets into mainstream finance while navigating the evolving regulatory landscape.
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