Canary Capital applies to SEC to launch ETF tracking cross chain protocol Axelar

According to CoinDesk, Canary Capital, an investment firm focused on digital assets founded by former Valkyrie Funds co-founder Steven McClorg, is planning to launch an ETF that tracks Axelar (AXL) prices. The company submitted an S-1 filing to the US Securities and Exchange Commission (SEC) on Wednesday, initiating the process of launching such funds. This hedge fund has previously submitted documents for several other ETFs. Some of them have been confirmed by the SEC and are awaiting approval. Axelar is a cross chain protocol that connects blockchains and has been integrated by major players such as JPMorgan Chase, Microsoft, Uniswap, and MetaMask. Former Coinbase legal director Brian Brooks has joined Axelar's new institutional advisory board.