#TRXETF Canary Capital has filed a proposal with the US Securities and Exchange Commission (SEC) for a TRX ETF, named Canary Staked TRX ETF. This fund would track TRX price movements and offer staking rewards, providing investors with regulated access to staking rewards and market exposure.
*Key Features:*
- *Custodian*: BitGo Trust Company will safeguard TRX assets.
- *Staking*: The ETF will stake assets through third-party providers to generate added yield.
- *Market Exposure*: Investors will have direct exposure to TRX's market price.
*Impact on TRX:*
- *Current Price*: TRX is trading at around $0.2415, with a 1.87% drop in the last 24 hours and a 3.06% decline over the last 7 days.
- *Potential Catalyst*: The ETF approval could be a game-changer for TRX, potentially driving up demand and price.
- *Market Sentiment*: Despite the ETF filing, TRX faces strong bearish sentiment, with slowing demand and weak bullish conviction ¹ ².
*Regulatory Landscape:*
- *SEC Approval*: The ETF application is awaiting SEC approval, with industry analysts predicting a potential surge in altcoin ETF approvals in mid-2025.
- *Staking Approval*: Canary Capital's proposal seeks staking approval in its first filing, a departure from Ethereum ETFs that applied for staking after their spot products were listed ³.
