Canary Capital Launches Canary AXL Trust, Expanding Institutional Crypto Investment Products to Axelar Network Token

By: blockbeats|2025/02/26 15:45:02

Source: Axelar

Canary Capital Group LLC (Canary Capital), a digital asset investment firm, announced today the launch of the Canary AXL Trust, a private investment tool designed for institutions and qualified investors. AXL is the native token powering the Axelar Network, supporting secure investment in the Axelar native token AXL. The trust is Canary's latest initiative to drive innovation in digital asset investment solutions and the first investment trust product focused on a general-purpose blockchain interoperability protocol. Additionally, the SEC has confirmed receiving Canary Capital's spot XRP ETF application and has also confirmed its Litecoin ETF application.

Canary Capital stated, "With the growing institutional demand for cryptocurrency investments, we are committed to providing structured, secure, and innovative investment tools to drive the future development trends of blockchain technology applications."

Following the successful launch of the Canary HBAR Trust, this product further solidifies Canary Capital's leading position in the industry, providing institutional investors with crypto investment opportunities beyond just Bitcoin and Ethereum. The Axelar Network has become a significant force in the Web3 interoperability space, aiming to build a decentralized network connecting global Web3 with financial infrastructure.

Steven McClurg, CEO of Canary Capital, said, "Axelar is driving advanced interoperability solutions for Web3, and we believe AXL will be a key asset for institutional investors positioning themselves in the next-generation blockchain infrastructure. With the growing institutional demand for cryptocurrency investments, we are committed to providing structured, secure, and innovative investment tools to drive the future development trends of blockchain technology applications."

The Canary AXL Trust is a private single-asset investment tool designed to hold Axelar's native token AXL, which provides decentralized security for a scalable blockchain interoperability network. The launch of this trust comes at a significant growth period for the Axelar Network. By 2024, Axelar has seen a 71% increase in active users, with a total trading volume of $100 billion, and has successfully partnered with major institutions including Apollo Global Management, Deutsche Bank, and JPMorgan Chase. As of early 2025, Axelar Network has soared to become the 11th largest blockchain globally by TVL calculation, surpassing $1 billion for the first time. Axelar is expected to further expand, connecting more Web3 ecosystems such as XRP Ledger, Hedera, Stellar, TON, Sui, Solana, and Bitcoin.

Canary Capital portfolio manager Josh Olszewicz stated, "As interoperability continues to shape the blockchain ecosystem, Axelar is becoming an indispensable infrastructure within the blockchain space. We believe in the long-term potential of Axelar's technology and its role in enabling seamless cross-chain interaction, making AXL a quality asset of interest to forward-thinking investors."

The Canary AXL Trust is only available to qualified investors, offering a direct investment opportunity in AXL. Canary Capital also provides other digital asset investment strategies, including customized hedge fund solutions for institutional clients. Additionally, Canary has appointed Coinbase as the custodian for this trust.

About Canary Capital

Canary Capital is an investment management company that combines rigorous risk management, strategic foresight, and innovative thinking to offer private strategies (such as crypto hedge fund solutions) focusing on enterprise technology.

Disclaimer: This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction. Any such offer or solicitation would be illegal in the jurisdiction where such offer or solicitation is not qualified. In any jurisdiction, the offer, solicitation, or sale of securities prior to registration or qualification under the securities laws of that jurisdiction is illegal.

This article is contributed content and does not represent the views of BlockBeats.

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