Canary Capital Asset Management Company took a significant step towards launching the first Exchange-Traded Fund (ETF) for the digital currency Axlar (AXL) by submitting a formal request to the U.S. Securities and Exchange Commission (SEC). This action, done through filing an S-1 statement, marks a milestone in the acceptance path of Axlar as an institutional token. Steven McClurg, CEO of Canary Capital, described this move as a strategic opportunity for institutional investors and believes that this fund will facilitate access to advanced blockchain technology of the future generation. According to the published details, the net asset value of the fund will be directly linked to the price of Axlar. The immediate impact of this news on the market was evident; Axlar’s price surged significantly to $0.44, indicating a 14.3% growth. Additionally, the trading volume of this digital currency increased significantly by 131.8% to $35.7 million.
