Canary Capital launches Axelar trust, AXL jumps nearly 13%

Canary Capital launched the Canary Axl Trust for institutional investors in order to expose themselves to the native token of Axular, Axl, which jumped 12.5% ​​after the news.

According to the press releaseThe Canary Axl Trust is supposed to be a private investment vehicle with a single asset designed to contain AXL (Ax), the native token of the axlar network. Canary named Jamming As an official guardian of the AXL Trust.

The newly launched AXL Canary Trust is available exclusively for accredited investors and gives them the opportunity to explore other cryptographic assets beyond Bitcoin (BTC) and Ethereum (Ethn), in particular the AXL token. In addition, Canary Capital also offers digital asset investment strategies, such as hedge fund solutions for institutional customers.

Shortly after the launch of AXL Trust of Canary Capital, the AXL token increased by almost 13%. According to data From Crypto.News, the Axlar token is currently negotiated at $ 0.50. In the past 24 hours, the token has accumulated a commercial volume of more than $ 43 million, an increase of 218.3% compared to the day before.

AXL has a market capitalization of $ 460 million and an entirely diluted assessment of more than $ 596 million. The token currently has a circulating offer of around 918 million AXL. In addition to being used as a governance token, AXL is also used to pay transaction costs within the network, as well as to mark out and receive rewards when it is delegated to the Validators’ ignition pools.

CEO of Canary Capital, Steven McClurg, said that the company had chosen AXL as an underlying asset for this trust because the Axlar network was an engine of “most advanced interoperability solutions in web3”.

“As the institutional demand for exposure to cryptography increases, we remain determined to provide structured, secure and innovative investment vehicles that align with the future of the adoption of the blockchain,” said McClurg in a press release.

The Axlar network is a transverse protocol which is closely linked to Ripple stableRlusd (Rlusd). Axlar acts as the connection bridge between XRP Ledger and the Ethereum Ledger XRP virtual machine. The protocol experienced massive growth in 2024, with an increase of 71% of active users and a volume of transactions which reached $ 10 billion.

At the beginning of 2025, Axlar became the 11th largest blockchain network by a total locked value, exceeding $ 1 billion for the first time

In October 2024, the Canari capital had spear The first Trust Hbar in the United States, based on confidence on the native token of the Hedera network. The trust gives us investors a structured means of investing in Hbar.