Grayscale Investments is moving quickly to broaden its lineup of spot crypto ETFs, filing with the U.S. Securities and Exchange Commission to launch a spot Canton Coin ETF just days after its Hyperliquid staking product began trading.
The registration statement shows the proposed Grayscale Canton ETF would hold Canton Coin (CC) directly and issue publicly traded shares intended to track the token’s market performance. Under the trust structure, investors could gain exposure to CC through brokerage accounts without buying, storing, or managing the token themselves; the filing says the fund’s assets would consist primarily of Canton Coin held on behalf of shareholders.
Market reaction to the filing was muted. Canton Coin slipped about 2.8% over the past 24 hours as risk appetite softened following Bitcoin’s pullback toward the $60,000 support level. The broader crypto market also felt pressure, with total market capitalization down roughly 4.8% to about $2.18 trillion during the same period, according to crypto.news data.
Grayscale’s Canton filing follows the launch of its Hyperliquid staking ETF, which received SEC approval and began trading on June 3. That product attracted nearly $5 million in net inflows over its first two sessions and carries a 0.29% management fee — a pricing point Grayscale has pointed to as a competitive edge in the nascent staking-ETF space. Hyperliquid’s native token is HYPE.
Canton Network, whose native asset is Canton Coin, positions itself as a blockchain platform aimed at financial institutions and enterprises. Project materials cited in Grayscale’s filing describe the network as a bridge between traditional financial infrastructure and blockchain systems, with built-in privacy controls for participants.
The Canton proposal is part of a broader push by Grayscale to convert alternative crypto assets into regulated, market-accessible investment vehicles. In recent months the asset manager has filed for products tied to XRP and Solana, and it recently updated registration paperwork for a proposed spot BNB ETF. In that June 3 amendment Grayscale disclosed a ticker symbol for the BNB fund but left key details — including the management fee, whether the trust would stake BNB, and any fee waiver arrangements — unspecified. That update came as a competing BNB ETF from VanEck hit the market.
Taken together, Grayscale’s filings underscore the firm’s strategy to expand beyond Bitcoin and Ethereum by packaging a wider set of digital assets into familiar, broker-accessible products — a trend that could further shape institutional and retail access to altcoins if regulators continue to approve spot offerings.
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