The proposed fund, which would trade under the ticker TRXS on the Cboe, aims to track the price of TRX while simultaneously participating in the Tron network’s proof-of-stake process. Unlike standard crypto funds that simply hold underlying tokens, this product intends to stake substantially all of its held TRX. Under the current proposal, the trust would retain 80% of generated rewards, with the remaining 20% allocated to cover staking fees shared among Canary, the custodian, and the staking provider.
In section Cryptocurrency
Canary Capital Prepares Staked TRX ETF Launch
Canary Capital has signaled the imminent arrival of its proposed Canary Staked TRX ETF, marking a push to bring yield-generating digital assets to American brokerage accounts. The firm is currently directing potential investors to an amended registration statement filed with the U.S. Securities and Exchange Commission.
Financial details in the Aug. 19 amendment outline an annual sponsor fee of 1.10% of the trust’s holdings. BitGo Bank & Trust is slated to hold the TRX assets, while U.S. Bank will manage cash reserves. Despite the 'coming soon' messaging, the fund remains in the preliminary stages. The registration statement has not yet been declared effective by the SEC, and no official trading date has been set. Investors should note that the fund will not be registered under the Investment Company Act of 1940, meaning it lacks certain protections typically afforded to registered investment companies.
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