Canary Files Hint at TRON Spot ETF with Staking

April 20, 2025 by Jhon E. Bermúdez

Key Takeaways In a move that could simplify crypto investing, Canary Capital has applied to list the first US-based ETF for Tron (TRX) that includes staking benefits. This ETF is designed to make investing in TRX easier for traditional investors by tracking the token’s real-time price and offering staking rewards. Share this article In a

Key Takeaways

In a move that could simplify crypto investing, Canary Capital has applied to list the first US-based ETF for Tron (TRX) that includes staking benefits.
This ETF is designed to make investing in TRX easier for traditional investors by tracking the token’s real-time price and offering staking rewards.

In a potentially significant step for crypto investment, Canary Capital has officially applied to launch the first US-listed exchange-traded fund (ETF) focused on Tron’s TRX token. What makes this ETF particularly interesting? It’s designed to incorporate staking features, according to a recent filing with the SEC filing.

Dubbed the “Canary Staked TRX ETF,” the proposed fund aims to mirror TRX’s spot price, using calculations from CoinDesk Indices, minus any operating expenses. For secure storage, BitGo Trust Company is slated to handle custody of the ETF’s TRX holdings.

The filing reveals that the fund intends to stake a portion of its TRX holdings through third-party services to generate staking rewards. Crucially, BitGo will maintain control over the private keys in this process. This ETF structure is specifically engineered to make TRX investment more accessible and straightforward for investors accustomed to traditional markets.

While details like the exact management fee and the ETF’s ticker symbol are still under wraps and yet to be announced, the application signals a growing appetite for diverse crypto investment products.

TRX is the native cryptocurrency of the Tron blockchain, a network launched back in 2017. According to the filing, Tron operates using a delegated proof-of-stake system, boasting the capacity to process up to 2,000 transactions every second. The Tron network has carved out a niche for itself, focusing on applications in content sharing, gaming, and decentralized finance (DeFi).

As of this writing, TRX was trading around $0.24, experiencing a slight uptick following the public disclosure of the ETF filing, based on data from CoinGecko.

Canary Capital’s move to launch a TRX ETF is part of a broader strategy to aggressively introduce multiple crypto ETFs in the US. The firm appears to be leveraging what it perceives as a more favorable regulatory and legislative landscape for crypto innovation under the current administration.

Adding to their crypto ETF push, Canary Capital has also submitted an S-1 application for what would be the first US ETF tracking the spot price of Sui (SUI), demonstrating their commitment to expanding crypto investment options.

Looking beyond TRX and SUI, Canary has its sights set on gaining SEC approval for ETFs linked to a range of other crypto assets. These include prominent names like Solana (SOL), Litecoin (LTC), XRP, Hedera (HBAR), and Axelar (AXL). In an even more novel move into the intersection of NFTs and ETFs, the firm has also filed for a groundbreaking ETF connected to the Pudgy Penguins NFT collection.