Canary Capital has introduced the Canary AXL Trust, a private investment vehicle designed for institutional investors to gain exposure to Axelar\u2019s native token, AXL. Following the announcement, AXL surged by 12.5%, reflecting strong market enthusiasm for the new trust.<\/p>\n\n\n\n
According to the press release, the Canary AXL Trust is a single-asset investment product managed by Coinbase as the official custodian. This initiative marks a significant step in broadening institutional access to emerging digital assets beyond mainstream cryptocurrencies like Bitcoin and Ethereum.<\/p>\n\n\n\n
Shortly after the trust\u2019s launch, the AXL token saw a sharp 13% spike, reaching a trading price of $0.50. Data from crypto.news indicates that AXL\u2019s 24-hour trading volume soared by 218.3% to over $43 million. The token currently holds a market capitalization of $460 million and a fully diluted valuation exceeding $596 million.<\/p>\n\n\n\n
AXL serves as both a governance token and a utility asset within the Axelar Network. It is used for transaction fees, staking rewards, and validator delegation, making it an integral component of the ecosystem.<\/p>\n\n\n\n
Steven McClurg, CEO of Canary Capital, emphasized Axelar\u2019s role in advancing Web3 interoperability. \u201cAs institutional demand for crypto exposure grows, we remain committed to providing structured, secure, and innovative investment vehicles that align with the future of blockchain adoption,\u201d McClurg stated.<\/p>\n\n\n\n
The Axelar Network operates as a cross-chain protocol, facilitating connectivity between major blockchain ecosystems, including Ripple\u2019s stablecoin RLUSD and the XRP Ledger Ethereum Virtual Machine. The network has seen impressive growth, with a 71% increase in active users and $10 billion in transaction volume in 2024.<\/p>\n\n\n\n
In early 2025, Axelar ranked as the 11th largest blockchain network by total value locked (TVL), surpassing $1 billion for the first time. Canary Capital\u2019s latest trust follows its successful launch of the first U.S.-based HBAR Trust in October 2024, further demonstrating its commitment to structured crypto investment products for institutional investors.<\/p>\n\n\n\n
Canary Capital\u2019s launch of the AXL Trust reinforces the increasing institutional interest in diversified digital assets. With Axelar\u2019s continued expansion and interoperability advancements, the trust provides a structured gateway for accredited investors to participate in the growing ecosystem. The immediate market response to the announcement underscores the potential for continued AXL price appreciation in the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"
Canary Capital has introduced the Canary AXL Trust, a private investment vehicle designed for institutional investors to gain exposure to Axelar\u2019s native token, AXL. Following the announcement, AXL surged by 12.5%, reflecting strong market enthusiasm for the new trust. According to the press release, the Canary AXL Trust is a single-asset investment product managed by…<\/p>\n","protected":false},"author":3,"featured_media":5596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[176,65,86],"class_list":["post-5595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-asset","tag-crypto","tag-market"],"yoast_head":"\n