Canary Capital lanza ETF de cripto made in USA: La apuesta institucional que Wall Street no vio venir

Wall Street acaba de recibir su mayor desafío cripto del año.

Canary Capital rompe moldes con la primera solicitud de ETF de criptomonedas completamente desarrollada en suelo estadounidense—un movimiento que podría redefinir el acceso institucional al mercado digital.

La jugada estratégica

Mientras los gigantes financieros tradicionales siguen nadando en aguas regulatorias, Canary Capital ejecuta un end-run alrededor de la burocracia con una estructura 100% doméstica. No más dependencia de productos offshore con riesgos jurisdiccionales ocultos.

El nuevo estándar institucional

Transparencia total, cumplimiento regulatorio nativo y exposición pura a assets digitales—todo empaquetado para fondos de pensiones y family offices que exigen legitimidad. Porque incluso en la era de la DeFi, los grandes capitales todavía prefieren la comodidad de un vehículo familiar con el sello de aprobación de la SEC.

El elefante en la habitación

Porque qué mejor manera de democratizar las criptomonedas que a través de un producto que cobra 75 puntos básicos de gestión—la ironía financiera en su máxima expresión.

Get ready for ETF combos, Bloomberg ETF analyst says

Bloomberg Senior ETF analyst Eric Balchunas, who first reported the filing on social platform X on Monday, noted that an approval could spur creativity in crypto ETF proposals, and the market will see funds that are very different from the currently approved Bitcoin and Ethereum ETFs. 

“As we’ve predicted, thanks to the category’s success, get ready for ETFs to try every combo imaginable,” Balchunas wrote.

I’m not even totally sure what would make it in this and what wouldn’t. Maybe easier to ask: what major coins wouldn’t be in for sure?

— Eric Balchunas (@EricBalchunas) August 25, 2025

However, he admitted that there’s an uncertainty over which tokens would definitively qualify. “I’m not even totally sure what would make it in this and what wouldn’t. Maybe easier to ask: what major coins wouldn’t be in for sure?” he posted.

The Canary American Made Crypto ETF, which is dubbed a Delaware statutory trust, will issue shares that represent beneficial interests, are continuous, and registered under the Securities Act of 1933. 

It is different from mutual funds or ETFs governed by the Investment Company Act of 1940, meaning investors will not receive protections typical of regulated investment companies. Alongside passively tracking the Made-in-America Blockchain Index, the trust could seek secondary rewards by participating in network validation activities where possible, the filing read.

According to an August 23 Cryptopolitan report, Canary Capital also submitted a revised S-1 form for another spot vehicle, the Canary XRP ETF. That fund would directly hold Ripple’s native token XRP, using the CoinDesk XRP CCIX New York Rate as its benchmark, and listed on the Cboe BZX Exchange.

Institutions are more optimistic about XRP fund approvals after the SEC officially dropped its remaining appeal against Ripple in early August, closing a legal dispute that began in December 2020. 

Judge Analisa Torres had issued a split decision on the SEC’s case against Ripple in July 2023, ruling that XRP qualified as a security when sold to institutional investors, but not when traded on public exchanges. About a year later, she imposed a $125 million fine on Ripple.

After Donald Trump’s reelection as the 47th President of the United States, a more crypto-friendly SEC joined Ripple in asking Torres to lift the injunction and reduce the penalty to $50 million. 

Federal Judge Torres rejected the request, stating that neither party had demonstrated “exceptional circumstances” that would outweigh the public interest in enforcing her earlier ruling. Her ruling has kept the injunction and the $125 million fine in force.

“Accordingly, if jurisdiction were restored to this court, the court would deny the parties’ request to vacate the injunction and reduce the civil penalty,” she told the two entities’ attorneys.

Canary’s filings follow more proposals that have been sent to the SEC, including one from rival asset manager Grayscale Investments which submitted a registration statement to convert its existing private Avalanche Fund into a publicly traded trust. 

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