"Made in USA" cryptocurrencies will have their ETF

Source: Criptonoticias Original Title: Cryptocurrencies “Made in USA” Will Have Their ETF Original Link: Investment firm Canary Capital has filed an amendment with the United States Securities and Exchange Commission (SEC) for a proposal for an exchange-traded fund (ETF) aimed at replicating the performance of cryptocurrencies made in the United States.

The fund, which if approved would trade under the symbol MRCA, primarily aims to invest in a portfolio of assets that mirrors the CoinDesk Made-in-America index. This financial instrument is designed to measure the performance of up to 12 cryptocurrencies that meet strict eligibility and regulatory presence criteria defined within the U.S. jurisdiction.

The proposed fund may include up to 12 cryptocurrencies.

Among the requirements established for a digital asset to be considered by the ETF, the cryptocurrency must have an organizational infrastructure such as a foundation, headquarters or operations, or a management team based in the United States.

Additionally, for assets utilizing proof of work (PoW), U.S.-based operators must have accounted for more than 25% of mined blocks over the past year.

It is important to note that the prospectus explicitly excludes memecoins. Despite its focus on U.S. presence, Canary Capital’s prospectus reveals that the initial portfolio would include digital currencies that did not originate in the country, such as bitcoin. Other assets on the list include avalanche (AVAX), chainlink (LINK), hedera (HBAR), litecoin (LTC), solana (SOL), stellar (XLM), and XRP.

The inclusion of bitcoin highlights a flexibility in the index’s definition of “Made in USA,” focusing on operational infrastructure rather than foundational origin.

This move underscores the strategy of Canary Capital, a firm already managing funds focused on specific assets such as XRP, solana, hedera, and litecoin.

The filing of this amendment marks another step in the evolution of investment products seeking to offer regulated exposure to the digital asset space, with a focus on compliance and presence in the U.S. market, which could attract institutional investors looking to minimize regulatory risk.