Crypto.com and Canary Capital are launching the first US-regulated fund devoted to Cronos’ native CRO token, available only to accredited investors. Positioned as a stepping-stone to an eventual ETF, the trust packages CRO in a compliant wrapper, mirroring Grayscale’s early Bitcoin model.
The move follows a wave of applications—about 70 new crypto ETFs since January—stimulated by President Trump’s pro-market stance. Yet the SEC has not approved any exchange-token ETFs, citing market-manipulation risks. CRO’s relatively low liquidity (~$880 million cap) and tight on-chain float could complicate that path.
Still, a trust structure can seed institutional demand, support Cronos DeFi TVL (currently ~$440 million), and give Crypto.com an additional revenue stream via management fees. If successful, other exchanges may replicate the format for BNB, OKB or HT, potentially deepening the link between centralized platforms and their native chains.
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