21Shares Lists TCAN, a US ETF Tracking Canton Coin, on Nasdaq
The 1940 Act fund charges 0.50%, waived at the subsidiary level for a year, holds CC through a Cayman subsidiary and Canton ETPs, and uses BitGo as crypto custodian.
21Shares launched the 21shares Canton Network ETF on Nasdaq on 7 May 2026 under the ticker TCAN. The company described it as the first US ETF designed to give investors direct exposure to Canton Coin (CC), a claim that is its own.
How the fund is built
According to the fund's summary prospectus, filed with the SEC on 3 April 2026:
- Legal form. TCAN is a series of Listed Funds Trust, registered under the Investment Company Act of 1940 and classified as non-diversified. It aims to track the price performance of CC before fees and expenses.
- Holdings. At least 80% of net assets go into CC and instruments that give CC exposure. At least 40% is invested in exchange-traded products that hold CC directly, such as 21Shares' European Canton Network ETP. Direct CC exposure runs mainly through a wholly owned Cayman Islands subsidiary, generally capped at 25% of total assets for tax reasons.
- Fees. The management fee is 0.50%. The adviser waives that fee at the subsidiary level at least through 3 April 2027.
- Custody. BitGo Bank and Trust holds all CC owned by the fund and its subsidiary. Creations and redemptions are expected in cash.
- No staking is described for the fund.
Teucrium Investment Advisors is the investment adviser and 21Shares US the sub-adviser. 21Shares, a subsidiary of FalconX, says it is also an active validator on Canton.
The road to listing
EDGAR shows 21Shares first filed for the fund on 17 November 2025. A post-effective amendment filed on 2 April 2026 took effect on 3 April, five weeks before the fund began trading. The Block, reporting the debut, called CC a top-20 cryptocurrency with a market value of about $5.6 billion by its own data.
Andres Valencia, executive vice president for investment management at 21Shares, said in the release that Canton "has attracted significant institutional interest". The release also quotes Georg Schneider of Digital Asset and notes that Digital Asset has a material interest in Canton's adoption.
Why it matters
TCAN gives US investors a way to get CC exposure through an ordinary brokerage account, without holding the token or running a Canton wallet. Its structure is indirect: much of the exposure comes through other exchange-traded products and a capped offshore subsidiary, which can make returns differ from the spot price. REX-Osprey also has a Canton Coin ETF filing pending with the SEC.
Follow Canton Coin's price, volume and markets on CantonCap.
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