Investors Flock to Canary Capital's New Fund: Is AXL the Next Big Thing? 🤑

In a world where digital assets flutter like leaves in the wind, the bold and audacious Canary Capital has unveiled its latest marvel: the Axelar private investment fund. This fund, dear reader, is a golden ticket for institutional investors to waltz directly into the realm of the interoperability network’s native token, AXL. 🎟️

As the clock struck February 20, the announcement echoed through the halls of finance, revealing that the Canary AXL Trust would be open to institutional and accredited investors. With Axelar (AXL) boasting a market cap of over $444 million and a staggering $195 million in total value locked (TVL), according to the ever-reliable DefiLlama, one might wonder if this is the dawn of a new era. 💰

Ah, but the plot thickens! Axelar’s interoperability stack, which sprang to life in October, allows decentralized applications to connect with a myriad of blockchains—Solana, Stellar, and Sui, to name a few. It’s like a digital matchmaking service for assets, enabling developers to tokenize everything from real estate to intellectual property. Who knew finance could be so romantic? 💘

Canary, in its infinite wisdom, pointed to Axelar’s illustrious partnerships with titans like Apollo Global Management, JPMorgan, and Deutsche Bank as a compelling reason to launch this AXL fund. Because, let’s face it, who wouldn’t want to ride the coattails of such giants? 🚀

“We’re not just looking at the top 20 market cap protocols,” declared Canary Capital CEO Steven McClurg, as if he were a modern-day oracle. “We’re also eyeing a select few from the top 100 that have developers with the potential to create real magic.” 🪄

“Axelar is a shining star in the interoperability category,” McClurg continued, “and there’s already a buzz for AXL among qualified investors.” Buzz? More like a swarm of bees! 🐝

Institutional demand for crypto is growing

As if scripted by fate, the launch of Canary’s new trust coincides with a veritable gold rush in institutional demand for crypto assets. Unlike the closed-ended AXL Trust, Canary is also casting its net for open-ended exchange-traded funds (ETFs) that will dip their toes into Solana (SOL), Litecoin (LTC), and XRP (XRP). 🌊

These applications were birthed from the overwhelming success of US spot Bitcoin (BTC) ETFs, which gobbled up nearly $40 billion in net assets in 2024. Bitwise’s Matt Hougan predicts that US Bitcoin funds could reel in over $50 billion in investor inflows this year. Talk about a buffet! 🍽️

With regulatory clarity in the United States under President Donald Trump, the stage is set for a surge in institutional interest in digital assets, as Chainalysis CEO Jonathan Levin shared with CryptoMoon in January. Clarity? More like a foggy day in London! 🌫️

Industry bigwigs have also pointed to Trump’s executive order banning the creation of a central bank digital currency as a catalyst for institutional adoption. Because who needs government-backed digital dollars when you have Bitcoin? 🤷‍♂️

“This move tells you where Trump stands: He’s betting on the existing crypto market rather than creating government-backed digital dollars. It’s a vote of confidence in Bitcoin, Ethereum, and others, potentially giving them a boost in legitimacy and market value,” quipped Anndy Lian, an intergovernmental blockchain adviser, to CryptoMoon. 🗳️

Recently, representatives from the crypto and institutional investment sectors gathered with President Trump’s Crypto Task Force to discuss how to open the market to more established players. They requested clearer guidelines around exchange-traded products and protocol staking, among other things. Because who doesn’t love a good guideline? 📜

2025-02-20 22:39

Investors Flock to Canary Capital’s New Fund: Is AXL the Next Big Thing? 🤑

Institutional demand for crypto is growing

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