XRP News Today: Canary Files U.S.-Based Crypto ETF Tying XRP, SOL, ADA to Domestic Blockchain Index

Canary Capital has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) for a new cryptocurrency ETF called the "American-Made Crypto ETF." If approved, the fund will track the Made-in-America Blockchain Index, which includes cryptocurrencies developed, mined, or primarily operated in the United States. The ETF is expected to trade on the Cboe BZX Exchange under the ticker MRCA. The fund’s structure aims to provide direct exposure to U.S.-based digital assets, excluding stablecoins, memecoins, and pegged tokens. Assets must meet strict criteria such as custody eligibility, liquidity, and multi-venue trading before being included [1].

The filing does not explicitly list which coins will be included, but popular tokens like XRP, Solana (SOL), and Cardano (ADA)—created by U.S. developers—have been highlighted as potential candidates. CoinMarketCap categorizes these coins under a “Top Made in America Tokens by Market Cap” list, which also includes Dogecoin (DOGE), Sui, Stellar (XLM), Chainlink (LINK), and Avalanche (AVAX). The index will be rebalanced quarterly, ensuring the portfolio remains aligned with its U.S.-centric focus [2].

Custody of the ETF’s assets will be handled by a South Dakota-chartered trust company, with the majority of holdings stored in cold storage. The firm also mentioned the possibility of generating staking rewards from the tokens included in the fund, a feature that differentiates it from purely passive crypto ETF structures. CSC Delaware Trust Company has been named as the fund’s trustee [2].

This is the latest in a series of ETF filings from Canary Capital, which has previously submitted applications for funds tied to Litecoin, SOL, TRX, and Trump Coin. The firm’s XRP ETF application, however, has been delayed, with a final SEC decision now expected in October 2025. Canary has also filed a “Trump Coin” ETF and is preparing additional applications, reflecting its broader strategy to capture niche segments of the crypto market [3].

Bloomberg analyst Eric Balchunas has noted that the fund is likely to include larger market cap coins with strong U.S. ties, such as XRP, SOL, and ADA. He also questioned whether Bitcoin would qualify under the fund’s criteria, given that while it was not developed in the U.S., a significant amount is mined domestically due to the concentration of U.S. mining operations [2].

The filing comes amid a growing trend of crypto ETF submissions, as the industry seeks to expand product offerings and diversify exposure for institutional and retail investors. The SEC’s upcoming decisions on related ETF applications—particularly for XRP, ADA, and other U.S.-linked tokens—will be a key indicator of the regulatory climate and the potential for broader adoption of crypto-based investment vehicles [3].

Sources:

[1] The Crypto Basic - https://thecryptobasic.com/2025/08/25/canary-capital-files-with-sec-to-launch-american-made-crypto-etf-backed-by-us-origin-assets-like-xrp/

[2] CoinGape - https://coingape.com/canary-files-american-made-crypto-etf-could-hold-xrp-sol-and-ada/

[3] Blockonomi - https://blockonomi.com/sec-extends-grayscale-cardano-etf-decision-to-october-2025/