SEC ACKNOWLEDGES FIRST STAKED TRON ETF — IS MAINSTREAM STAKING FINALLY HERE?

- The U.S. Securities and Exchange Commission (SEC) officially acknowledged Canary Capital’s filing for a staked $TRX ETF.

- This acknowledgment, published as a notice by the SEC, brings the proposal closer to approval.

- Canary Capital’s filing was submitted in April and is now under review on the Cboe BZX Exchange platform.

- The fund, custodied by BitGo, offers investors exposure to TRX staking rewards—within a regulated, traditional finance structure.

- TRX, launched by Justin Sun in 2017, currently ranks as the tenth-largest cryptocurrency by market capitalization, valued at around $26 billion.

- This ETF would mark an important milestone for crypto ETFs focused on staking tokens, expanding investor options beyond typical spot or futures products.

SEC Remains Cautious:

- While it has opened the door to public comments on this filing, delays and extended review periods are common.

- Recent reports show the commission has pushed back deadlines on other crypto ETFs, including those for XRP and Litecoin.

- Market watchers expect any early approvals to be unlikely before late June or early July, with a higher chance of decisions coming in the fourth quarter.