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The surge in interest surrounding cryptocurrency exchange-traded funds (ETFs) has resulted in 33 different applications being submitted, along with numerous other investment products progressing through the process. This increase in product diversity is aimed at providing institutional investors with a safer and more familiar way to invest in cryptocurrencies. If this trend continues, the U.S. market could transform into a platform resembling an average cryptocurrency exchange.
AXL Coin Trust Announcement
Eleanor Terrett recently announced that a trust for Axelar (AXL) would be launched by Canary. Following this news, the price of the altcoin increased by approximately 5%, which is a noteworthy rise considering the decline in BTC prices during that time. Terrett stated:
“The Axelar protocol has emerged as a leading cross-chain protocol, working closely with Ripple 
$2 for the interoperability of the stablecoin RLUSD. Axelar serves as a bridge between the XRP Ledger and the XRP Ledger EVM (Ethereum 
$2,407-compatible network).
Expanding Blockchain Connections
The trust will enable institutional investors to engage with technologies supporting blockchain connections among various Web3 ecosystems including XRP Ledger, Hedera, Stellar, TON, Sui, Solana 
$161, and Bitcoin 
$103,014.
