#TRXETF Canary Capital, an American investment firm, filed an application with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) based on the TRX token of the TRON network.

This was detailed in the application submitted to the SEC, where they state that this new instrument, called the Canary Staked TRX ETF, would also incorporate the possibility of staking as part of its operational strategy, which could yield profits for participants.

This attempt represents a new approach within the traditional financial market to integrate features of the crypto ecosystem, such as staking, into regulated investment vehicles.

The proposed fund would track the spot price of the TRX token, thereby offering investors exposure to the specific digital currency.

According to the S-1 document filed with the SEC, Canary Capital plans to execute this process through external providers specialized in staking. The firm BitGo, recognized for its expertise in the custody of digital assets, would be responsible for safeguarding the ETF's funds.