The post Axelar ($AXL) Soars 15% Following Canary Capital’s ETF Filing, Marking a Milestone for Blockchain Interoperability appeared on BitcoinEthereumNews.com.

Axelar ($AXL), a prominent player in the interoperability of blockchains, has gained value after a key business development in the financial sector. The price of the cryptocurrency rose by 15%, to $0.4443, after Canary Capital, a leading financial institution, filed to launch the “Canary AXL ETF.” This ETF would be the first of its kind, tracking the performance of the Axelar token. It’s a sign of the growing interest in blockchain solutions that are working to improve cross-chain compatibility. Canary Capital’s Groundbreaking ETF Filing Sparks Investor Interest In a landmark development for the crypto and blockchain markets, a cryptocurrency industry player called Canary Capital has taken a serious step toward providing a regulated investment vehicle for Axelar ($AXL), a token that has garnered attention for its part in improving interoperability between different blockchain networks. Canary Capital submitted an S-1 registration form with the U.S. Securities and Exchange Commission (SEC) to create the Canary AXL ETF. This filing is noteworthy because it is the first time that a financial institution has proposed an ETF designed to track the performance of Axelar. The proposed ETF affords institutional investors a rare chance to achieve indirect exposure to the technology that underlies Axelar. For those looking to invest in the growing space of decentralized finance (DeFi), this ETF offers a pathway that is much more in line with traditional investment vehicles than buying the token directly. The submission has most certainly captured the interest of investors, as it shows us there is a demand for solutions that deal with the interoperability problems of the blockchain ecosystem. Axelar is a company that has built a cross-chain protocol. And a protocol is only as good as how well it works across platforms. And when it comes to blockchains, across platforms means, at least, across different blockchains.…

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Filed under: News - @ March 7, 2025 7:22 am