Grayscale Files Canton ETF as CC Token Surges 10%

• Grayscale Investments filed with the SEC to launch a spot ETF that would hold only Canton token (CC), offering direct exposure to the asset.
• The ETF announcement helped drive CC more than 10% higher, increasing investor attention toward the Canton ecosystem.
• Grayscale identified concentrated ownership as a key risk, noting that the 100 largest wallets control about 89% of the circulating CC supply.

Grayscale Investments filed a registration statement with the U.S. Securities and Exchange Commission on June 5 to launch a spot exchange-traded fund tied to Canton token CC. According to the filing, the proposed Grayscale Canton ETF would hold only CC and give investors regulated exposure to the asset, while the announcement pushed the token more than 10% higher over the following 24 hours.

According to the filing, the trust would invest exclusively in CC rather than futures contracts or other derivatives. The value of the ETF shares would reflect the amount of Canton token held by the trust.

The proposal adds another asset to Grayscale’s growing crypto ETF pipeline. The company has also sought exchange-traded products linked to Hyperliquid, Cardano, Dogecoin, and NEAR Protocol.

Meanwhile, the filing places Canton among a widening group of digital assets seeking entry into the U.S. spot ETF market through regulated structures.

While presenting the product, Grayscale also identified concentrated ownership as a key consideration. The registration statement said the 100 largest Canton Coin wallets control about 89% of the circulating supply.

According to the filing, roughly $38 billion worth of CC tokens are currently in circulation. Grayscale noted that large transactions from major holders could affect both the token price and the value of ETF shares.

Following the announcement, retail activity increased. Market trackers showed CC rising more than 10%, while discussion around the token accelerated across trading communities.

Canton Network operates as a Layer-1 blockchain designed for institutional financial applications. The project has drawn attention from firms including Goldman Sachs, Citadel Securities, and Visa.

Supporters have highlighted the network’s role in regulated financial infrastructure. However, the SEC filing also makes clear that concentrated token ownership remains one of the principal risks tied to the proposed fund. The application now moves into the SEC review process, where approval remains pending.