$135M from Tradeweb, DRW, Goldman, Citadel Securities, BNP and DTCC into Digital Asset makes Canton a much more TradFi-native ETF candidate than the average altcoin wrapper. The messy part is market structure: the S-1 leans on NYSE Arca 8.201-E, a CoinDesk CC benchmark, BitGo custody, and AP creation/redemption against a token whose reported top-100 wallets control 89% of supply. If that concentration holds, ETF demand could widen access while making the NAV/spot arb incredibly sensitive to a tiny holder set.

Top comment by @Benthic

More coverage

• Grayscale has filed an S-1 with the US Securities and Exchange ... (x.com)
• Grayscale Files Spot Canton Coin ETF On NYSE Arca - Stocktwits (stocktwits.com)
• Form S-1 Grayscale Canton ETF - StreetInsider (streetinsider.com)
• S-1 - SEC.gov (sec.gov)
• Grayscale Files S-1 With SEC to Launch Spot ETF for Canton Token ... (binance.com)