US digital asset investment firm Canary Capital Group has filed with the SEC to launch the Canary American-Made Crypto ETF (MRCA). The proposed fund will track an index of US-created cryptocurrencies and trade on Cboe BZX under the ticker MRCA. The Made-in-America Blockchain Index will have strict criteria, excluding stablecoins, memecoins, and pegged tokens.

The trust will provide direct exposure to assets without leverage or derivatives, with custody handled by a South Dakota-chartered trust company. Some projects likely included in the index are XRP, Solana, Dogecoin, Cardano, Chainlink, Stellar, among others. Canary has also filed for ETFs tied to Trump Coin, SOL, XRP, SUI, and TRX, currently under SEC review.

Canary’s latest ETF filing coincides with a shift in US crypto policy, with former SEC Commissioner Paul Atkins launching “Project Crypto” to establish clearer guidelines for cryptocurrencies. The SEC clarified liquid staking arrangements not falling under securities laws, paving the way for staking-based ETFs like Canary’s.

Despite a softened stance towards crypto, the SEC has been cautious in approving crypto ETFs, delaying decisions on various filings including NYSE Arca’s Truth Social Bitcoin and Ethereum ETF, 21Shares and Bitwise’s Solana ETFs, and the 21Shares Core XRP Trust. The SEC also extended its review of Cboe BZX Exchange’s proposal to list and trade shares of the WisdomTree XRP Fund, as well as the Canary PENGU ETF.

Read more at Cointelegraph: Canary Capital Files “American-Made” Crypto ETF Amid SEC Delays