{"id":36958,"date":"2025-02-20T15:30:01","date_gmt":"2025-02-20T12:30:01","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=36958"},"modified":"2025-02-20T14:08:04","modified_gmt":"2025-02-20T11:08:04","slug":"canary-capital-launches-axelar-trust-axl-surges-nearly-13","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/canary-capital-launches-axelar-trust-axl-surges-nearly-13\/","title":{"rendered":"Canary Capital Launches Axelar Trust, AXL Surges Nearly 13%"},"content":{"rendered":"<p><a href=\"https:\/\/coinengineer.net\/blog\/franklin-templeton-moves-towards-solana-etf\/\"><strong>Canary Capital<\/strong><\/a> launched the <strong>Canary AXL Trust<\/strong> to provide institutional investors access to <strong>Axelar&#8217;s AXL token<\/strong>. Following the announcement,<strong> AXL increased by 12.5%.<\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/canary-capital-launches-axelar-trust-axl-surges-nearly-13\/#Canary_Capital_Launches_AXL_Trust_for_Institutional_Investors_AXL_Token_Jumps_125\" title=\"Canary Capital Launches AXL Trust for Institutional Investors, AXL Token Jumps 12.5%\">Canary Capital Launches AXL Trust for Institutional Investors, AXL Token Jumps 12.5%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/canary-capital-launches-axelar-trust-axl-surges-nearly-13\/#Axelar_Network_Continues_to_Grow_Canary_Capital_Launches_HBAR_Trust\" title=\"Axelar Network Continues to Grow, Canary Capital Launches HBAR Trust\">Axelar Network Continues to Grow, Canary Capital Launches HBAR Trust<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"0\" data-end=\"88\"><span class=\"ez-toc-section\" id=\"Canary_Capital_Launches_AXL_Trust_for_Institutional_Investors_AXL_Token_Jumps_125\"><\/span>Canary Capital Launches AXL Trust for Institutional Investors, AXL Token Jumps 12.5%<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"90\" data-end=\"355\"><strong>Canary Capital<\/strong> has launched the <strong>Canary AXL Trust<\/strong> for institutional investors to gain exposure to<strong> Axelar Network&#8217;s native token, AXL<\/strong>. This private investment vehicle is designed solely to hold<strong> AXL, with Coinbase<\/strong> appointed as the official custodian for the <strong>AXL Trust.<\/strong><\/p>\n<p data-start=\"357\" data-end=\"692\">The newly launched <strong>Canary AXL Trust is available exclusively to accredited investors<\/strong>, providing them with the opportunity to invest in other crypto assets beyond Bitcoin and Ethereum, specifically the AXL token. Additionally, Canary Capital offers digital asset investment strategies and hedge fund solutions for institutional clients.<\/p>\n<p data-start=\"694\" data-end=\"785\">Immediately following the launch of the <strong>Canary AXL Trust, the AXL token saw a 13% increase.<\/strong><\/p>\n<p data-start=\"787\" data-end=\"1119\"><strong>The market capitalization of the AXL token stands at $460 million,<\/strong> with a fully diluted valuation of over $596 million. The circulating supply of AXL is approximately 918 million. AXL is used not only as a governance token but also for paying transaction fees, staking, and earning rewards when delegated to validator staking pools.<\/p>\n<p data-start=\"1121\" data-end=\"1349\"><strong>Steven McClurg, CEO of Canary Capital<\/strong>, explained that the firm chose AXL as the underlying asset for this trust due to the Axelar network being a driving force behind many of the most advanced interoperability solutions in Web3.<\/p>\n<p data-start=\"1351\" data-end=\"1573\">In his statement, McClurg said, \u201cAs institutional demand for crypto exposure grows, we remain committed to offering structured, secure, and innovative investment vehicles that align with the future of blockchain adoption.\u201d<\/p>\n<h2 data-start=\"1575\" data-end=\"1647\"><span class=\"ez-toc-section\" id=\"Axelar_Network_Continues_to_Grow_Canary_Capital_Launches_HBAR_Trust\"><\/span>Axelar Network Continues to Grow, Canary Capital Launches HBAR Trust<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"1649\" data-end=\"1951\"><strong>Axelar Network, a cross-chain protocol closely linked to Ripple&#8217;s stablecoin RLUSD<\/strong>, serves as a bridge between <strong>XRP Ledger and the XRP Ledger Ethereum Virtual Machine<\/strong>. The protocol experienced significant growth in 2024, with a 71% increase in active users and a transaction volume reaching $10 billion.<\/p>\n<p data-start=\"1953\" data-end=\"2088\">By early 2025, Axelar became the 11th largest blockchain network by total value locked (TVL), surpassing $1 billion for the first time.<\/p>\n<p data-start=\"2090\" data-end=\"2295\" data-is-last-node=\"\" data-is-only-node=\"\">In October 2024, <strong>Canary Capital launched the first HBAR Trust in the U.S.<\/strong>, based on the native token of the Hedera network, HBAR. This trust provides U.S. investors with a structured way to invest in HBAR.<\/p>\n<hr \/>\n<p data-start=\"2090\" data-end=\"2295\" data-is-last-node=\"\" data-is-only-node=\"\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest <a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canary Capital launched the Canary AXL Trust to provide institutional investors access to Axelar&#8217;s AXL token. Following the announcement, AXL increased by 12.5%. Canary Capital Launches AXL Trust for Institutional Investors, AXL Token Jumps 12.5% Canary Capital has launched the Canary AXL Trust for institutional investors to gain exposure to Axelar Network&#8217;s native token, AXL.<\/p>\n","protected":false},"author":29,"featured_media":36959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[11965,11966,11964,9648,11968,11967,11969,519],"class_list":["post-36958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-axelars-axl-token","tag-bitcoin-and-ethereum","tag-canary-axl-trust","tag-canary-capital","tag-ceo-of-canary-capital","tag-steven-mcclurg","tag-the-xrp-ledger-ethereum-virtual-machine","tag-xrp-ledger"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canary Capital Launches Axelar Trust, AXL Surges Nearly 13% - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/canary-capital-launches-axelar-trust-axl-surges-nearly-13\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canary Capital Launches Axelar Trust, AXL Surges Nearly 13% - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Canary Capital launched the Canary AXL Trust to provide institutional investors access to Axelar&#8217;s AXL token. Following the announcement, AXL increased by 12.5%. Canary Capital Launches AXL Trust for Institutional Investors, AXL Token Jumps 12.5% Canary Capital has launched the Canary AXL Trust for institutional investors to gain exposure to Axelar Network&#8217;s native token, AXL.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/canary-capital-launches-axelar-trust-axl-surges-nearly-13\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-20T12:30:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-20T11:08:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/02\/canary_ce.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Emre Yumlu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emre Yumlu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/canary-capital-launches-axelar-trust-axl-surges-nearly-13\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/canary-capital-launches-axelar-trust-axl-surges-nearly-13\/\",\"name\":\"Canary Capital Launches Axelar Trust, AXL Surges Nearly 13% - 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