According to a recent filing, Canary Capital submitted an S-1 registration with the SEC to introduce the “Canary AXL ETF,” making it the first financial institution to propose an ETF tracking the Axelar token.

The ETF filing drew attention from investors, reflecting growing interest in blockchain interoperability solutions.

After this announcement, the price of AXL surged 15% to reach $0.4443. At the same time, the market capitalization of this token also recorded an impressive increase of 15.1%, reaching $411.11 million.

With groundbreaking steps, Axelar is rapidly establishing its position in the blockchain industry, trusted and integrated by major tech names such as J.P. Morgan’s Kinexys, Microsoft’s Azure Marketplace, Uniswap, and MetaMask.