On May 7, 2026, the US market recorded the debut of the first ETF linked to Canton Coin (TCAN), the token of the Canton Network cryptocurrency network, which began trading on Nasdaq with a management fee of 0.50%. The product offers direct exposure to the digital asset from traditional markets.
The ETF was launched by 21Shares, an issuer of cryptocurrency exchange-traded products, as part of the expansion of regulated vehicles tied to digital asset infrastructures. In its first operations, The ETF traded at levels close to $24 and $25in a context of volatility associated with the release of the product.
The launch occurs in the middle of the expansion of cryptocurrency ETFs in the United States towards assets other than bitcoin (BTC) and ether (ETH), especially projects focused on financial infrastructure and tokenization of assets. With TCAN, investors can access Canton Coin from traditional markets, without the need to use cryptocurrency wallets.
According to 21Shares, the fund will invest at least 80% of its assets in Canton Coin and in instruments linked to their price. The ETF uses the Kaiko Canton Coin Reference Rate USD as a reference and seeks to replicate the performance of the asset before fees and expenses.
Also, according to reports cited by the companythe network has been used in tests related to US Treasury bond repo markets, with volumes exceeding USD 350,000 million daily.
21Shares had already launched a European version of the product in November 2025 under the ticker CANTN, listed on Euronext Amsterdam and other European markets, as part of its strategy to expand institutional exposure to this ecosystem.
Canton Network is a cryptocurrency network originally developed by Digital Asset, a company known for creating the Daml smart contract language. The network is aimed at financial institutions and seeks to connect different systems while maintaining privacy and regulatory compliance, as reported by CriptoNoticias. Additionally, Canton is focused on the tokenization of traditional financial assets and interoperability between different platforms.
Institutions linked to the Canton ecosystem include Goldman Sachs, Microsoft, Deutsche Bank, DTCC, Nasdaq, Visa and BNP Paribas. Several of these companies participate as validators, governance collaborators or technical testing actors within the network.
ETF prospectus warns that digital assets remain highly volatile and that the fund could lose a significant portion of its value. Likewise, 21Shares and Digital Asset clarified that the participation of banks and large financial firms in Canton Network does not represent a direct endorsement of Canton Coin or the TCAN ETF.