Canary Capital Submits Application for Tron (TRX) ETF Featuring Staking Options
Canary Capital is preparing to launch an exchange-traded fund (ETF) that will track the price of Tron’s native token, TRX, as indicated in a recent filing. The hedge fund has submitted a Form S-1 for the Canary Staked TRX ETF with the Securities and Exchange Commission (SEC). If approved, the fund will stake portions of its holdings through third-party providers, with BitGo serving as the custodian for the assets. The ETF aims to track TRX’s spot price using calculations from CoinDesk Indices.
Details such as the proposed ticker symbol and management fee for the fund have not yet been disclosed.
Initially, some issuers submitted applications for spot Ethereum (ETH) ETFs that included staking features, but they later removed these components in revised filings to enhance their chances of SEC approval. While the SEC, under former Chair Gary Gensler, was opposed to staking, there is growing optimism among issuers that the new crypto-friendly chair, Paul Atkins, may change this stance.
Recently, the SEC postponed a decision on a request from Grayscale regarding the inclusion of staking in the Grayscale Ethereum Trust ETF (ETHE) and the Grayscale Ethereum Mini Trust ETF (ETH).
