Canary Capital Group has submitted a filing to the SEC for its proposed Canary American-Made Crypto ETF (MRCA), which aims to track an index of cryptocurrencies predominantly created, mined, or operated within the United States. The ETF will trade on Cboe BZX and will stake its holdings through third-party providers to augment its net asset value. The Made-in-America Blockchain Index will only include assets meeting stringent criteria set by an oversight committee. Notably, stablecoins, memecoins, and pegged tokens are excluded, with quarterly rebalancing scheduled. The filing reflects a trend towards a more favorable regulatory atmosphere for cryptocurrency in the U.S., amid recent moves by the SEC to clarify its stance on staking-based ETFs. However, the SEC has also delayed decisions on numerous ETF applications, including significant Bitcoin and Ethereum ETFs, raising questions about the pace of approval in the evolving crypto landscape.

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