Canary has taken a significant step by officially submitting an S-1 filing to the U.S. Securities and Exchange Commission (SEC). The aim is to launch a groundbreaking exchange-traded fund (ETF) that would be backed entirely by staked Cronos ($CRO). If it receives approval, this ETF would be the first of its kind in the U.S. market.

The introduction of a staked $CRO ETF offers dual benefits to investors—providing exposure to the inherent value of the token while also allowing them to earn from staking rewards. This innovative approach reflects a growing trend in the crypto market towards integrating traditional financial instruments with digital assets.

This initiative marks a pioneering move and could set a precedent for other crypto assets looking to make their entry into the ETF space, thus bridging the gap between traditional investment avenues and the burgeoning world of cryptocurrency staking.