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Canary Bets Big on Tron With Surprise ETF Filing—Is This the Start of a Trend?
Canary's TRX ETF filing sets stage for major shift in crypto investment landscape.
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Updated Apr 20, 2025 3:07 PM GMT+2
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Canary Bets Big on Tron With Surprise ETF Filing—Is This the Start of a Trend?
Canary’s TRX ETF filing sets stage for major shift in crypto investment landscape.In a move that few saw coming, Canary Capital Group LLC has officially filed for a staked Tron (TRX) ETF, potentially opening the doors to a wave of institutional interest in one of crypto’s most actively used networks.
On Friday, Canary filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC), marking its intent to launch the Canary Staked TRX ETF. This is not just another ETF application—this one comes with a twist. The proposed fund won’t just track TRX price action—it will also stake a portion of the holdings to generate network rewards, bringing a yield-bearing dynamic to the table that few traditional ETFs offer.
It’s a bold and strategic play that could redefine how digital asset exposure is offered to mainstream investors.
A New Kind of Crypto ETF?
According to the preliminary prospectus, the ETF aims to give investors direct exposure to TRX’s market price, adjusted for the trust’s operating expenses. But the kicker lies in its plan to stake TRX tokens—potentially generating passive income through network rewards while navigating risks like liquidity constraints and penalties.
The trust plans to calculate net asset value (NAV) daily at 4 p.m. ET, using Coindesk Indices as a benchmark. These indices aggregate TRX spot prices across top exchanges to deliver a transparent and consistent price reference.
The filing also outlines a fee structure where the sponsor—Canary Capital—covers ordinary operating costs, while the trust itself bears any extraordinary expenses. Shares will be created or redeemed in cash under SEC Rule 415
