21Shares has listed the 21Shares Canton Network ETF on Nasdaq under the ticker TCAN, becoming what the company describes as the first U.S. exchange-traded fund to offer exposure to Canton Coin, the native token of the Canton Network.
The fund began trading today with a gross expense ratio of 0.50%. Teucrium Investment Advisors serves as the investment adviser, with 21Shares US LLC acting as both issuer and subadviser. PINE Distributors serves as the fund's distributor.
Canton Network has drawn participation from Goldman Sachs, Microsoft, and Deutsche Bank, among others, in roles including network validation and governance. The company's announcement notes explicitly that their involvement does not constitute an endorsement of Canton Coin, the Canton Network, or the TCAN ETF.
"Canton Network has attracted significant institutional interest given its focus on privacy-preserving infrastructure for capital markets," said Andres Valencia, EVP of Investment Management at 21Shares.
Georg Schneider, Global Head of RWA at Digital Asset, said the network's value lies in its coordination capabilities. "What makes Canton different is not simply that institutions can hold digital assets onchain, but that they can coordinate real financial workflows across firms without giving up privacy, control, or compliance." Digital Asset is the original developer of Canton Network and has a material interest in its adoption.
21Shares also participates in the network directly, serving as an active validator and taking part in the coordination of the Global Synchronizer.
