Canary Capital Launches Canary AXL Trust, Expanding Institutional Access to Blockchain Connectivity

Canary Capital, a leading digital asset-focused investment firm, has announced the launch of the Canary AXL Trust (“the Trust”), a private investment vehicle designed to provide institutional and accredited investors with secure exposure to AXL, the native cryptocurrency of the Axelar Network.

Bridging Blockchain Networks with Axelar

Axelar serves as a crucial cross-chain bridge, connecting the XRP Ledger with its Ethereum-compatible counterpart, XRP Ledger EVM. Axelar enhances blockchain connectivity across multiple Web3 ecosystems by facilitating interoperability between these networks. The newly launched Trust allows institutional investors to gain exposure to the technology that underpins blockchain interoperability, enabling seamless asset transfers across networks such as XRP Ledger, Hedera, Stellar, TON, Sui, Solana, and Bitcoin.

A Leading Cross-Chain Protocol

The Axelar protocol has solidified its position as a leader in cross-chain interoperability and has developed a strategic partnership with Ripple to ensure smooth integration of Ripple’s stablecoin, RLUSD. As blockchain adoption grows, Axelar continues to drive innovation by establishing a reliable infrastructure that connects various decentralized ecosystems.

Institutional-Grade Crypto Investment Opportunities

Following the successful launch of the Canary HBAR Trust, the introduction of the Canary AXL Trust reaffirms Canary Capital’s commitment to expanding institutional access to digital assets beyond Bitcoin and Ethereum. Axelar Network has emerged as a critical player in Web3 interoperability, providing an internet of blockchains that securely links global financial and Web3 infrastructures.

“With Axelar driving some of the most advanced interoperability solutions in Web3, we see in AXL a significant opportunity for institutional investors to gain exposure to the technology underpinning next-generation blockchain connectivity,” said Steven McClurg, Chief Executive Officer at Canary Capital.

Axelar’s Rapid Growth and Institutional Adoption

In 2024, Axelar experienced a remarkable 71% increase in active users, with cumulative transaction volumes reaching $10 billion. The network also secured key partnerships with major institutional players, including Apollo Global Management, Deutsche Bank, and J.P. Morgan. By early 2025, Axelar achieved a significant milestone by becoming the 11th largest blockchain network by total value locked (TVL), surpassing $1 billion for the first time.

As Axelar continues its expansion, it is expected to further integrate with leading Web3 ecosystems, strengthening its position as a fundamental connectivity layer for decentralized finance (DeFi) and blockchain applications.

Exclusive Access for Accredited Investors

The Canary AXL Trust is available exclusively to accredited investors seeking direct exposure to AXL. Additionally, Canary Capital provides a range of digital asset investment strategies, including hedge fund solutions tailored to institutional clients. To ensure the highest security standards, Canary Capital has selected Coinbase as the custodian for the Trust.

With the launch of the Canary AXL Trust, Canary Capital continues to lead the way in institutional-grade digital asset investments, offering innovative solutions that bridge the traditional financial sector with the expanding Web3 ecosystem.