The Canary American-Made Crypto ETF (ticker: MRCA) is an exchange-traded product that gives investors exposure to a basket of U.S.-affiliated cryptocurrencies through a traditional brokerage account. The Trust holds up to 12 crypto assets tracked by the CoinDesk Made-in-America Index, which screens for assets with identifiable U.S. ties — either a U.S.-based foundation, headquarters, or management team, or, for proof-of-work assets, U.S. miners accounting for more than 25% of mined blocks over the prior year. Current holdings include Bitcoin, Solana, XRP, Avalanche, Chainlink, Hedera, Litecoin, and Stellar. The portfolio is market-cap weighted, reconstituted quarterly, with a 20% single-asset cap and a 1% floor per constituent. The Trust is sponsored by Canary Capital Group, a Brentwood, TN-based firm. Canary Capital charges an annual Sponsor Fee as a percentage of assets held, and in return covers all ordinary operating expenses. For proof-of-stake assets in the portfolio, the Trust also delegates holdings to validator nodes through a third-party staking provider, earning incremental staking rewards that are reflected in the daily NAV. The Trust is structured as a Delaware statutory trust and taxed as a C corporation, meaning it pays 21% corporate tax on gains — a structure that differs from the grantor trust format used by most Bitcoin ETFs, and adds a layer of tax drag for investors.