21Shares Launches First U.S. Canton Network ETF on Nasdaq

TLDR

• 21Shares launched the Canton Network ETF under ticker TCAN on Nasdaq.
• TCAN is the first U.S. ETF offering direct exposure to Canton Coin.
• The Canton Network was developed by Digital Asset and launched in 2023.
• The ETF carries a 0.50% gross expense ratio.
• Canton Network participants include Goldman Sachs, Microsoft and Deutsche Bank.

21Shares has launched the 21Shares Canton Network ETF on Nasdaq, giving U.S. investors direct exposure to Canton Coin, the native utility token of the Canton Network.

The fund trades under the ticker TCAN and began trading on May 7, 2026. It is the first U.S.-listed exchange-traded fund designed to track Canton Coin and provide regulated access to the Canton Network, a privacy-focused blockchain ecosystem built for institutional finance.

The ETF opened trading near $24.72 and moved slightly higher to about $24.76 during early market activity. The fund carries a 0.50% gross expense ratio, according to product details cited in reports.

21Shares said the product is aimed at investors seeking exposure to blockchain infrastructure used by banks, asset managers, payment firms and other financial institutions. The firm is also an active validator on the Canton Network and participates in coordination of the Global Synchronizer.

TCAN ETF Lists on Nasdaq

The TCAN launch adds another product to the expanding U.S. crypto ETF market. Over the past year, issuers have introduced funds tied to several digital assets beyond Bitcoin and Ethereum, including Solana, XRP, Dogecoin, Hedera and Polkadot.

The 21Shares Canton Network ETF differs from many crypto funds because it focuses on blockchain infrastructure designed for regulated capital markets. Canton Network was developed by Digital Asset and launched in 2023 with a focus on privacy, compliance and interoperability for financial institutions.

Canton Coin recently traded near $0.146, down more than 1% over 24 hours, according to market data cited in reports. The token has a reported market value of about $5.6 billion and ranks among the largest crypto assets by market capitalization.

21Shares said Canton Network has drawn institutional interest because it allows regulated firms to use blockchain systems while maintaining control over private transaction data. Andres Valencia, executive vice president of investment management at 21Shares, said the presence of firms such as Nasdaq, Moody’s and Deloitte around shared blockchain infrastructure shows growing use of the network in financial markets.

Canton Network Targets Institutional Finance

Canton Network is designed to help financial firms coordinate tokenized assets, payments and post-trade processes while preserving privacy. Unlike many public blockchains, Canton allows participants to share transaction data only with parties that need access.

This model is intended for markets where confidentiality, auditability and compliance requirements are central to operations. Financial institutions often need to transact across firms without exposing private client, trade or balance sheet information to the broader market.

Digital Asset executives have described Canton as a system for financial workflows across institutions. Georg Schneider, global head of real-world assets at Digital Asset, said Canton allows firms to coordinate on-chain activity without giving up privacy, control or compliance.

The network has been tested or supported by a range of financial and technology companies. Firms linked to the Canton ecosystem include Goldman Sachs, Microsoft, Deutsche Bank, Visa, Nasdaq, Moody’s, Deloitte and DTCC.

Visa joined Canton as a super validator in January and later expanded its stablecoin settlement program to include the network. That move placed Canton among blockchain systems being tested for payments and tokenized settlement use cases.

Crypto ETF Market Expands Beyond Bitcoin

The TCAN launch comes during a period of broader crypto ETF expansion in the United States. The Securities and Exchange Commission has approved more digital asset funds since 2025, as the agency has taken a more defined approach to crypto asset classification and product review.

SEC Chairman Paul Atkins has pushed for clearer agency guidance on crypto markets. The agency has also stated through guidance that many cryptocurrencies are not securities, according to reports. That policy direction has helped create more room for issuers to bring token-linked funds to public markets.

21Shares has operated in crypto exchange-traded products since 2018, when it listed its first physically backed crypto ETP. The company is a subsidiary of digital asset prime broker FalconX and has continued to expand its ETF lineup in the United States.

The Canton ETF broadens 21Shares’ product range beyond more widely held cryptocurrencies. It also gives investors access to a network connected to real-world asset tokenization, institutional settlement and privacy-enabled blockchain infrastructure.

The fund’s performance will depend on Canton Coin market activity, investor demand for specialized crypto ETFs and broader adoption of the Canton Network by financial institutions. Trading volume, liquidity and regulatory treatment will also affect how the product develops after launch.

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