#TRXETF

TRXETF

Canary Capital has filed an application for a TRX ETF 📝

Canary Capital is planning to launch an exchange-traded fund (ETF) that will track the value of TRX. 💡

The fund, named Canary Staked TRX ETF, has submitted its application for approval to the U.S. Securities and Exchange Commission (SEC). 🏛️

If approved, the fund will use third-party providers to custody a portion of its assets. BitGo will act as the fund's custodian. 🔐

The ETF will track the spot price of TRX using calculations from CoinDesk Indices. 📊

Details about the ticker symbol and fund management have not been disclosed yet. ❌

Previously, issuers removed staking features from ETH-based ETFs to gain SEC approval. ⚖️

Current SEC Chairman Paul Atkins expressed hope that staking features would be reinstated in future applications. 🤞

Recently, a decision on Grayscale’s request to include staking in their Ethereum Trust ETFs was postponed. ⏳