Canary Capital Files for U.S.-Focused Crypto ETF Amid SEC Delays

Canary Capital Group is seeking SEC approval to launch the Canary American-Made Crypto ETF(MRCA) as the agency postpones multiple crypto ETF filing decisions.

Canary Capital Seeks Approval for American Crypto ETF

The United States digital investment firm Canary Capital Group applied to the SEC to launch a U.S.-only crypto ETF that will trade on Cboe BZX under the symbol MRCA.

Besides using third-party providers to stake its proof-of-stake cryptocurrencies, the proposed fund also aims to monitor the performance of digital assets created, mined, or mainly operated in the U.S.

An oversight committee set the eligibility rules for the Made-in-America Blockchain Index: tokens must use a regulated U.S. custodian, keep minimum liquidity, and stay available on multiple major exchanges. The index excludes stablecoins, memecoins, and pegged tokens.

A trust company in South Dakota will keep the assets in cold storage for safety. CoinMarketCap data on Top Made in America Tokens by Market Cap shows that XRP, Solana, Dogecoin, Cardano, Chainlink, and Stellar are also in the index.

U.S. Policy Shift Boosts ETF Staking Potential

In alignment with the latest Canary ETF filing, former SEC commissioner Paul Atkins launched “Project Crypto” in July, a plan to bring regulators into the world of digital finance by providing clear guidelines for cryptocurrencies and tokenized assets. This initiative marked a major shift in U.S. crypto policy.

According to the SEC, certain ways of staking cryptocurrencies are inconsiderable under the securities law, a move that could pave the way for staking-based ETFs such as Canary.

SEC Delays Crypto ETF Decisions Amid Cautious Review

Intending to be cautious when approving crypto ETFS, the United States Securities and Exchange Commission (SEC) has postponed multiple crypto ETF filing decisions.

Despite being less strict towards cryptocurrencies, the SEC has set new deadlines for NYSE Arca’s Truth Social Bitcoin, Ethereum ETF, 21Shares Bitwise Solana ETF, and the 21Shares Core XRP Trust, all now scheduled for October 2025.

The Cboe BZX Exchanges proposal for the WisdomTree XRP fund was extended on Monday to October 24, 2025. In addition, a ruling on the Canary PENGU ETF has been postponed to October 12, 2025.