#TRXETF 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, and issued in baskets tied to the TRX value per share.
