Canary Capital Launches AXL Trust for Institutional Investors Amidst Growing Crypto Adoption

On February 20, Canary Capital introduced the Canary AXL Trust, offering institutional and accredited investors direct access to Axelar's native token, AXL. This move follows Axelar's interoperability stack going live in October, enabling decentralized applications to connect with blockchains like Solana, Stellar, and Sui. Canary Capital highlighted Axelar's partnerships with Apollo Global Management, JPMorgan, and Deutsche Bank as key factors for launching the AXL fund. This launch aligns with increasing institutional interest in crypto assets, spurred by the success of U.S. spot Bitcoin ETFs and anticipation of clearer regulations. Chainalysis CEO Jonathan Levin noted in January that increased regulatory clarity under President Trump is expected to drive further institutional adoption. Furthermore, President Trump's stance against a central bank digital currency is seen as a boost for Bitcoin and Ethereum, potentially increasing their legitimacy and market value.