Canary Capital registered the AXL Trust "CANARY AXL TRUST" in Delaware on January 22nd, 2023, as a statutory trust with file number 10073958. The trust is currently in "bad standing," indicating potential non-compliance with state laws. Previously, Canary registered the HBAR Trust and HBAR ETF, both also noted as "bad standing." It remains uncertain if Canary will apply for an AXL ETF.

HBAR

BlockBeats News, January 26th, according to official information from the Delaware Division of Corporations (ICIS), Canary Capital registered the AXL Trust "CANARY AXL TRUST" in Delaware on January 22nd, with file number 10073958, entity type as a statutory trust, and the trust has not yet fully commenced operations. At the same time, the trust is noted as a "bad standing declaration," which may indicate that the filing does not signify that the trust is currently in good standing. Good standing generally refers to a company not being in violation of state laws or not being dissolved. Of note, Canary had previously applied to register the HBAR Trust "CANARY HBAR TRUST" in that jurisdiction on September 18, 2024, with file number 5145567, also carrying a "bad standing declaration." Subsequently, on September 24, 2024, Canary registered CANARY HBAR ETF with file number 5231034. On November 13, 2024, Bloomberg Senior ETF Analyst Eric Balchunas said Canary submitted an HBAR ETF application, which will track the "native asset of the Hedera Network." It is currently unclear whether Canary Capital will submit an AXL ETF application, and further information will need to wait for official disclosure.

Canary Capital Registers AXL Trust in Delaware Amid "Bad Standing" Status