Overview

Canary Capital’s rapid entrance into the Exchange-Traded Fund (ETF) market was unexpected. The founder and CEO, Steven McClurg, revealed that the original intention was not to enter the ETF space. Instead, the catalyst was an assassination attempt on Donald Trump during his candidacy, which led to a perception of political stabilization.

Key Information

• Canary Capital has filed applications for four crypto ETFs tied to assets like Solana, XRP, Litecoin, and Hedera.
• The firm considers its actions a speculative bet that Trump’s election could positively influence the regulatory environment for cryptocurrency ETFs.

“We really had no idea that we would be getting back into the ETF game,” says McClurg, reflecting on the surprising pivot. “Honestly, we thought about the changes in regulation that could come if Trump won, prompting us to explore ETF filings.”

Despite filing four applications, no approvals have been granted by the Securities and Exchange Commission (SEC) yet. There’s also a cautious optimism surrounding the prospects involving other tokens in the future.