First Canton Network ETF Goes Live In US

@21shares launched the 21Shares Canton Network ETF (ticker: TCAN) on Nasdaq on Thursday, marking the first US-listed fund to offer direct exposure to Canton Coin ($CC), the native token of the @CantonNetwork. The launch follows the wave of institutional crypto ETF approvals that began with $BTC spot ETFs in early 2024, and signals growing appetite for regulated exposure to institutional-grade blockchain infrastructure beyond Bitcoin.

What Is the Canton Network?

Canton Network is a public blockchain developed for financial institutions to enable secure, interoperable, and privacy-preserving transactions, backed by a consortium that includes Goldman Sachs, Microsoft, Moody's, Deloitte, and others. It is designed as the first privacy-enabled, interoperable blockchain built for institutional finance, allowing previously siloed financial systems to connect securely so that assets, data, and cash can move across applications while remaining compliant with regulatory requirements.

Broadridge's DLR platform, which runs on Canton, handles over $350 billion in daily repo transactions, allowing multiple financial institutions to settle repo agreements on a same-day basis. The network was designed to enable institutions to issue and trade tokenized real-world assets, such as bonds, loans, and funds, on a shared ledger while maintaining privacy and compliance with legal requirements.

$CC is a utility token used to pay application and infrastructure fees on the Global Synchronizer, as well as to incentivize and reward network stakeholders. It was designed to reward real network usage over speculation.

Fund Structure and Background

TCAN began trading on Nasdaq with a gross expense ratio of 0.50%. It is issued by 21Shares US LLC, with Teucrium Investment Advisors serving as the investment adviser and 21Shares US LLC as subadviser. BitGo serves as custodian. TCAN is the US counterpart to the European CANTN ETP, which 21Shares launched in November 2025 as the first ETP offering investors exposure to $CC.

21Shares' commitment to the Canton ecosystem extends beyond the fund itself: the firm serves as an active validator on the Canton Network, taking a direct role in network operations and the coordination of the Global Synchronizer, ensuring it remains at the forefront of institutional blockchain adoption.

Andres Valencia, EVP of Investment Management at 21Shares, noted that the Canton Network has attracted significant institutional interest given its focus on privacy-preserving infrastructure for capital markets, adding that backing from names like Nasdaq, Moody's, and Deloitte signals infrastructure with the potential to reshape how data and capital move across global markets.

Sources:
21Shares Launches TCAN, the First US ETF Providing Exposure to the Canton Network (GlobeNewswire via Manila Times)
21Shares Launches Canton Network ETF on Nasdaq (Investing.com)
21Shares Announces Launch of the Canton Network ETP (GlobeNewswire, November 2025)