Canary Capital Group LLC has launched the Canary AXL Trust, a private investment vehicle that gives institutional and accredited investors exposure to AXL, the native cryptocurrency of Axelar Network. The trust marks the firm’s latest move in expanding institutional access to blockchain assets beyond Bitcoin and Ethereum.
Canary Capital’s Axelar Trust Launch
“With Axelar driving some of the most advanced interoperability solutions in Web3, we see in AXL a significant opportunity for institutional investors to gain exposure to the technology underpinning next-generation blockchain connectivity,” said Steven McClurg, CEO of Canary Capital.
The Axelar Network facilitates secure blockchain interoperability, connecting various financial and Web3 infrastructures. The launch of the AXL-focused trust follows Canary Capital’s earlier introduction of the Canary HBAR Trust. McClurg emphasized that as institutional interest in digital assets continues to grow, Canary Capital is committed to delivering “structured, secure, and innovative investment vehicles that align with the future of blockchain adoption.”
The Axelar Network has experienced rapid growth, recording a 71% increase in active users in 2024 and surpassing $10 billion in cumulative transaction volume. The blockchain network has also formed partnerships with major financial institutions, including Apollo Global Management, Deutsche Bank, and J.P. Morgan. In early 2025, Axelar reached a milestone by becoming the 11th largest blockchain network in terms of total value locked (TVL), exceeding $1 billion for the first time.
Josh Olszewicz, Portfolio Manager at Canary Capital, highlighted the growing significance of interoperability in blockchain ecosystems. “As interoperability continues to shape the blockchain ecosystem, Axelar is proving to be an essential infrastructure layer,” he said. “We believe in the long-term potential of Axelar’s technology and its role in enabling seamless cross-chain interactions, making AXL a compelling asset for forward-thinking investors.”
The newly launched trust is a single-asset investment vehicle designed to hold AXL, allowing accredited investors to gain direct exposure to the token. Axelar’s network expansion is set to integrate with additional blockchain ecosystems, including XRP Ledger, Hedera, Stellar, TON, Sui, Solana, and Bitcoin.
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