Canary Capital has launched the Canary Axle Trust for institutional investors, which is to come in contact with the Axler country tokens, axle, which jumped 12.5% after the news.
As Press releaseCanary Axle Trust means a private, single-asset investment vehicle designed to keep the indigenous tokens of the Axul (Axle), Axlar Network. Canary has appointed Coinbase as the official custodian for the AXL Trust.
The newly launched canary XL Trust is available for particularly recognized investors and gives them the opportunity to detect other crypto assets beyond bitcoin (BTC) and atherium (ETH), especially axle tokens. In addition, the canary capital also provides digital asset investment strategy such as hedge fund solutions for institutional customers.
Shortly after the launch of the Axel Trust of Canary Capital, the axle token increased by about 13%. According to data from crypto.news, Axalar Token is currently trading at $ 0.50. In the last 24 hours, tokens have increased more than 218.3% trading volume of over $ 43 million compared to the previous day.
The AXL has a market cap of $ 460 million and a thinly diluted assessment of over $ 596 million. The token currently has a supply of about 918 million axles. In addition to being used as a governance token, AXL is also used to pay for transaction fees within the network, as well as handed over to stacking and prizes when the verification is handed over to the stacking pool .
Steven McClurg, CEO of Canary Capital, said that the firm chose Axal as a property underlying for this trust because the Axlar network is a driving force for the Network “Web 3 the most advanced interoperability solutions”.
McClifer said in a statement, “As institutional demand for crypto exposure increases, we are committed to providing structured, safe and innovative investment vehicles, aligning with the future of blockchain adoption.”
The Axalar Network is a cross-chain protocol that is closely connected to Ripple’s Stabecoin, RLUSD (RLUSD). The Axler acts as a connecting bridge between XRP laser and XRP laser atherium virtual machine. The protocol has seen a massive increase in 2024, an increase of 71% in active users and a transaction volume that has reached $ 10 billion.
In early 2025, the Axler became the 11th largest blockchane network from the total value, which was more than $ 1 billion for the first time.
In October 2024, Canary Capital launched the first Habar Trust in the US, with the trust on the native token of the Hedera network. The trust gives us a structured way of investing in HBAR.
Disclosure: This article does not represent investment advice. The materials and materials painted on this page are only for educational purposes.
