Canary Capital Files with SEC to Launch American-Made Crypto ETF Backed By US-Origin Assets Like XRP

Prominent asset manager Canary Capital has filed with the U.S. SEC to launch a niche-based digital asset ETF, called the American-Made Crypto ETF.

Canary recently submitted an S-1 document with the SEC, disclosing its intention to launch a new ETF that will hold a basket of U.S.-linked cryptocurrencies. The fund will exclusively focus on tracking the Made-in-America Blockchain index, primarily comprising cryptocurrencies with strong U.S. ties.

The ETF will include crypto assets that were either created in the United States, primarily mined or minted domestically, or whose protocol operations are based mainly within the country. According to the filing, the fund intends to generate additional rewards for investors by participating in certain network activities, like staking, if permitted.

Will $XRP Feature in the Fund?

Bloomberg analyst Eric Balchunas highlighted Canary’s proposed ETF, noting that it aims to provide investors with exposure to crypto assets closely tied to the United States. In a subsequent post, the ETF analyst disclosed that he is unsure which cryptocurrency will qualify for inclusion in the Canary American-Made Crypto ETF.

He posed the question to his over 364,100 X followers, asking them to specify which U.S.-linked cryptocurrency will make the list.

I’m not even totally sure what would make it in this and what wouldn’t. Maybe easier to ask: what major coins wouldn’t be in for sure?

— Eric Balchunas (@EricBalchunas) August 25, 2025

Elsewhere, Whale Wire CEO Jacob King specifically mentioned $XRP and Solana among the U.S.-invented cryptocurrencies that could back Canary’s American-Made Crypto ETF.

It is worth mentioning that $XRP was pre-mined by three American engineers. Ever since, San Francisco-based fintech company Ripple has supported developments of the token and its underlying blockchain, $XRP Ledger (XRPL).

Similarly, Solana’s early development was firmly rooted in the United States. In King’s view, $XRP and Solana’s strong U.S. ties make them suitable candidates for the Canary American-Made Crypto ETF.

It remains to be seen whether $XRP or Solana will be featured in the Canary American-Made Crypto ETF. However, the SEC is currently reviewing Canary’s application to launch a spot $XRP ETF in the U.S.