Canary Capital has filed an S-1 registration statement with the SEC to launch an exchange-traded fund (ETF) tracking the $AXL token, which is associated with the Axelar cross-chain protocol. This initiative aims to provide institutional investors with exposure to blockchain interoperability technologies, including ecosystems such as XRP Ledger, Hedera, Stellar, TON, Sui, Solana, and Bitcoin. The firm has also appointed Brian Brooks to its newly formed Institutional Advisory Board. Following the announcement, the price of $AXL surged by 14%. The specific ticker and fees for the ETF have yet to be announced, and the effective date is also pending.