Canary Capital didn’t even exist when the spot bitcoin or even the spot ethe rexchange-traded funds launched last year.
But the company quickly made a name for itself in the business.
Founded only last October, Canary Capital has quickly pushed out several applications for crypto ETFs, including ones for Solana (SOL), XRP (XRP), Litecoin (LTC) and Hedera (HBAR), with the latter two being the first ETF applications of their kind.
From the outside, it seemed as though the firm had it all planned out perfectly.
“We really had no idea that we would be getting back into the ETF game,“ said Steve McClurg, founder and CEO of Canary Capital.
His name might sound familiar to some. McClurg co-founded and served as chief investment officer at Valkyrie Investments, an alternative asset manager which in March 2024 was acquired by CoinShares.
After about six months at CoinShares, McClurg left the ETF provider to start Canary Capital as a hedge…
