Canary Capital has filed for a US-only crypto ETF, aiming to track an index of American-rooted digital assets as the SEC weighs other fund applications. US digital asset investment firm Canary Capital Group has filed with the Securities and Exchange Commission (SEC) to launch the Canary American-Made Crypto ETF (MRCA). According to a Friday filing, the proposed fund would track an index of cryptocurrencies created, mined or primarily operated in the United States, with shares slated to trade on Cboe BZX under the ticker MRCA. The trust also plans to stake its proof-of-stake holdings through third-party providers, adding rewards to its net asset value. The Made-in-America Blockchain Index will admit only assets that meet strict criteria set by an oversight committee. Tokens must be eligible for custody with a regulated US trust or bank, maintain minimum liquidity, and trade on multiple established venues. Read more
Bitcoin’s recovery hinges on the resumption of the spot ETF inflows and investors’ ability to compartmentalize the whale selling and focus on fundamentals. Key takeaways: Bitcoin futures demand continues rising despite the recent price weakness, indicating sustained trader engagement. The put options maintained a premium over calls, reflecting persistent bearish sentiment among investors. Read more
Sharps Technology announced a $400 million raise to launch a Solana treasury, sending its shares soaring Monday as more health sector firms pivot into digital assets. Shares of Sharps Technology nearly doubled Monday after the medical device maker announced a $400 million move to fund a new treasury strategy built around Solana’s native token. The stock jumped 96% from $7.40 to an intraday high of $14.53 before easing to $12.01 at this writing. Sharps signed a letter of intent with the Solana Foundation to purchase Solana (SOL) tokens via a private investment in public equity (PIPE) transaction — a type of financing deal where accredited investors buy shares of a publicly traded company at a discount to the current market price. The deal, expected to close on or around Aug. 28, would see Sharps acquire $50 million worth of SOL tokens at a 15% discount to their 30-day average price. Read more