Canary Capital applies to the U.S. SEC for an ETF tracking the cross-chain protocol Axelar

ChainCatcher news, according to CoinDesk, Canary Capital, an investment firm focused on digital assets founded by former Valkyrie Funds co-founder Steven McClurg, is planning to launch an ETF that tracks the price of Axelar (AXL).

The company submitted an S-1 filing to the U.S. Securities and Exchange Commission (SEC) on Wednesday, initiating the process to launch such a fund. This hedge fund has previously filed for several other ETFs, some of which have received SEC confirmation and are awaiting approval.

It is reported that Axelar is a cross-chain protocol that connects blockchains and has been integrated by major players such as JPMorgan, Microsoft, Uniswap, and MetaMask, and former Coinbase legal chief Brian Brooks has joined Axelar's new institutional advisory board.