Grayscale Investments has filed with the U.S. Securities and Exchange Commission to launch a spot Canton Coin exchange-traded fund, extending its recent push into crypto investment products just days after its Hyperliquid staking ETF began trading.
Summary
- Grayscale has filed with the SEC to launch a spot Canton Coin ETF holding CC directly.
- Canton Coin fell 2.8% as Bitcoin’s slide toward $60,000 triggered a broader crypto market selloff.
- The filing follows Grayscale’s Hyperliquid ETF debut and ongoing efforts to expand its crypto ETF lineup.
According to a registration statement submitted to the SEC, the proposed Grayscale Canton ETF would hold Canton Coin (CC) directly and issue publicly traded shares designed to track the token’s market performance. The filing adds Canton Coin to a growing list of digital assets Grayscale has sought to package into regulated investment vehicles.
Under the proposed structure, investors would gain exposure to CC through brokerage accounts without having to purchase, store, or manage the token themselves. The filing states that the trust’s assets would consist primarily of Canton Coin held on behalf of shareholders.
Market reaction remained muted despite the ETF application. Per data from crypto.news, Canton Coin fell 2.8% over the past 24 hours as investors pulled back from risk assets following Bitcoin’s sharp decline toward the $60,000 support level. The broader cryptocurrency market also came under pressure, with total market capitalization dropping 4.8% to roughly $2.18 trillion during the same period.
Grayscale expands crypto ETF lineup
The Canton filing arrives shortly after Grayscale’s Hyperliquid staking ETF entered the market. The fund received SEC approval and began trading on June 3. The investment product has attracted nearly $5 million in net inflows during its first two trading sessions.
Grayscale priced the fund with a 0.29% management fee, a level that reportedly helped it compete against rival issuers seeking exposure to Hyperliquid’s HYPE token.
Canton Network, whose native asset is Canton Coin, operates as a blockchain platform focused on financial institutions and enterprise users.
According to project materials referenced in the filing, the network is designed to connect traditional financial infrastructure with blockchain-based systems while offering privacy controls for participants.
Recent months have seen Grayscale pursue multiple crypto-focused ETF products beyond Bitcoin and Ethereum. Alongside the Canton proposal, the company has introduced products linked to XRP and Solana while continuing to add new filings tied to alternative digital assets.
BNB filing advances through review process
Elsewhere in its ETF pipeline, Grayscale recently updated its registration paperwork for a proposed spot BNB ETF.
On June 3, the asset manager disclosed the fund’s ticker symbol through an amended S-1 filing submitted to the SEC. While the update signaled progress in the review process, several details remain undisclosed.
The amended filing does not specify a management fee, indicate whether the trust plans to stake its BNB holdings, or describe any fee waiver arrangements. The revision followed the launch of a competing BNB ETF from investment manager VanEck.
Source link
