SEC Accepts Canary Capital’s Application for a Spot TRX-ETF

The SEC has accepted a 19b-4 filing for a spot TRX-ETF from Canary Capital.

The Commission has 240 days to make a final decision on the application.

Canary Capital has also filed for several other altcoin-based ETFs.

The U.S. Securities and Exchange Commission (SEC) has accepted Canary Capital’s application for the launch of a spot ETF based on TRON (TRX). A notable aspect of this case is the inclusion of staking as part of the fund’s structure — a feature not commonly seen in similar altcoin ETF filings.

The application was submitted back in mid-April 2025. If approved, the ETF will be listed on the Cboe exchange, with BitGo Trust Company serving as the custodian.

This would be the first spot TRX-ETF in the U.S. Moreover, it stands out for incorporating staking from the outset — unlike most other altcoin ETF proposals.

The SEC’s acceptance of the filing marks the beginning of a 240-day countdown, within which the regulator must make a decision. However, according to Bloomberg Intelligence analyst James Seyffart, the Commission is likely to take the full allotted time before approving the first altcoin-based spot ETFs, with launches expected in Q4 2025.