MutualFundWire.com: A TN Startup Will Put CRO Into an ETP

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Monday, January 12, 2026

A TN Startup Will Put CRO Into an ETP

The folks at a digital-assets-focused startup near Nashville are preparing to roll out another spot cryptocurrency ETP, this time focusing on Crypto.com's Cronos (CRO).

Today, Steven McClurg, founder and CEO of Canary Capital, filed with the SEC to create the Canary Staked CRO ETF. Brentwood, Tennessee-based Canary Capital Group LLC will serve as the sponsor of the planned exchange-traded product, which will be registed under the '33 Act. (Like other spot crypto ETPs, but unlike most ETFs and traditional mutual funds, this ETP will not be an investment company under the '40 Act.)

Today's filing still leaves plenty of questions unanswered about Canary's planned CRO ETP. No primary listing exchange or ticker symbol is revealed, nor is a sponsor fee (aka expense ratio) or planned launch date listed. The filing also doesn't name the ETP's independent accounting firm, initial staking provider, or seed capital investor; perhaps the Canary team is looking for those firms.

Canary's CRO ETP will be designed to track the CoinDesk CRO USD CCIXber 60m New York Rate as a pricing benchmark. CoinDesk Indices, Inc. will serve as benchmark provider.

The planned ETP's other providers will include:

Chapman and Cutler LLP as counsel;

CSC Delaware Trust Company as trustee;

Foris DAX Trust Company, LLC (dba Crypto.com Custody Trust Company) as CRO custodian;

Paralel Distributors LLC as marketing agent;

U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator and transfer agent; and

U.S. Bank, N.A. as cash custodian.