21Shares Lists TCAN ETF Tracking Canton Network on Nasdaq

21Shares listed the first U.S. ETF tracking the Canton Network on Nasdaq on May 7, 2026, under the ticker TCAN. The fund charges a 0.50% expense ratio and is required to hold at least 80% of its assets in Canton Coin (CC). Early trading placed TCAN near $24.76 with a net asset value close to $25.

The ETF provides U.S. investors regulated exposure to the Canton token without requiring direct custody of CC. 21Shares has offered a Canton ETP in Amsterdam under the ticker CANTN since November 2025 and has filed U.S. products tied to other altcoins.

Canton Network is a permissioned ledger built for financial institutions and tokenized real-world assets. Network participants report more than $350 billion in daily repo volume settling on Canton. Broadridge’s distributed ledger platform alone handles more than $6 trillion in monthly repo flow on the network. The network reports about $366.9 billion in tokenized real-world assets.

Institutions active on or building for Canton include DTCC, Goldman Sachs, JPMorgan, Microsoft, Nasdaq, Visa and Broadridge. DTCC targets a tokenized U.S. Treasury project to go live in the second quarter of 2026.

Operational figures show Canton processing about five to seven transactions per second in live use, with roughly 85% to 90% of reported activity in production rather than pilots. Production deployments cited include Broadridge’s repo processing and live stablecoin settlements involving major banks and trading firms.

Retail indicators moved higher since late 2025. Search interest for Canton rose into 2026 and on-chain metrics show a higher burn-to-mint ratio for CC, with recent periods burning more tokens than were created. CC is not listed on major centralized exchanges such as Binance and Coinbase.

Some market participants question whether Canton functions like a traditional public blockchain and describe aspects of its architecture differently. Observers will watch whether TCAN attracts sustained inflows beyond the late-2025 rally.

Canton Network stated, “Wall Street is already on-chain. $350B settles daily on Canton, with over $6T in tokenized real-world assets and institutions like JPMorgan and DTCC building in production.”