Canary Capital has launched the Canary AXL Trust, allowing institutional investors to gain exposure to the Axelar native token, AXL. The trust is a private, single-asset investment vehicle that holds AXL and is available exclusively to accredited investors. Coinbase is appointed as the custodian for the trust. After the launch, AXL saw a 12.5% spike in value. The Axelar Network, closely linked to Ripple's stablecoin RLUSD, is a cross-chain protocol that has experienced significant growth and is the 11th largest blockchain network by total value locked. CEO Steven McClurg stated that Canary Capital is committed to providing innovative investment vehicles that align with blockchain adoption.

Note: This is not investment advice and is for educational purposes only.



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