26-8-2025 – Canary Capital has submitted a Form S-1 registration with the Securities and Exchange Commission for a spot cryptocurrency ETF that would exclusively hold digital assets created in the United States or primarily mined domestically.
The proposed “American-Made” fund represents a novel approach in the crypto ETF space, where most products focus on major cryptocurrencies regardless of their geographic origins. Canary’s strategy targets investors concerned about regulatory clarity, supply chain transparency, and national security considerations in cryptocurrency mining operations. The filing did not specify which tokens would qualify for inclusion or detail custody arrangements.
The submission adds to Canary’s aggressive ETF filing strategy, which includes pending applications for funds tracking XRP, Cronos, Injective, and Sei. The SEC has already acknowledged Canary’s staked Injective Protocol ETF filing, marking regulatory progress for the firm’s broader crypto ETF ambitions. The multiple filings signal confidence in shifting SEC attitudes toward alternative cryptocurrency products, particularly as regulators have shown increased openness to staking-related investments.
The domestic-focused approach could appeal to institutional investors seeking regulated exposure to cryptocurrencies while maintaining geographic preference constraints. However, the SEC has remained cautious about approving altcoin ETFs beyond Bitcoin and Ethereum, making approval timelines uncertain.
