Nikolas Sargeant
Canary Capital has submitted a filing to the U.S. Securities and Exchange Commission (SEC) for the Canary Staked TRX ETF, marking the first U.S.-listed exchange-traded fund to offer both direct exposure to TRON's TRX token and the opportunity to earn staking rewards. The fund plans to hold spot TRX and stake a portion of its holdings through third-party providers, aiming to generate an annualized yield of approximately 4.5%.
The ETF would be custodied by BitGo Trust Company, which will manage the private keys and ensure the security of the assets. Pricing data will be sourced from CoinDesk Indices, and the fund intends to track TRX's spot price minus expenses.
This filing is part of Canary Capital's broader strategy to expand its crypto ETF offerings, including plans for products tied to other cryptocurrencies such as Sui, Hedera, and Litecoin. The move comes at a time when the SEC's stance on cryptocurrency ETFs is evolving, with recent approvals of spot Bitcoin and Ethereum ETFs signaling a potential shift in regulatory openness.
However, the SEC has delayed its decision on the Canary Staked TRX ETF, citing the need for more time to evaluate the proposed rule change. This delay is part of a broader trend, as the SEC has postponed decisions on several cryptocurrency ETFs, including those for XRP and Dogecoin ETFS, Solana, and Litecoin.. Analysts suggest that these delays are standard procedure, with final decisions expected by October 2025 or later.
If approved, the Canary Staked TRX ETF could pave the way for more innovative crypto investment products that integrate staking features, offering investors a new avenue to earn passive income through blockchain technology.
