A New Gateway for TRON Investors?
Canary Capital has officially submitted a proposal to the U.S. SEC for a spot-based TRON ETF named Canary Staked TRX ETF. This innovative fund aims to provide direct exposure to TRX, while also offering passive income through staking.
Key Highlights:
Staking Rewards: A portion of the TRX held by the ETF would be staked, allowing investors to earn additional yield.
Trusted Custodian: BitGo Trust Company is set to handle custody of the fund’s TRX holdings.
Objective: Track TRX’s market price while generating staking-based returns.
Market Impact?
Currently, TRX is trading at around $0.24 with a modest 0.87% gain. While the ETF filing hasn’t triggered a price surge yet, its approval could fuel both demand and adoption.
Regulatory Hurdles Ahead:
Incorporating staking within an ETF is a bold step, especially given the SEC’s cautious stance on similar features in the past. The industry is watching closely to see how regulators respond this time.