$TRX United States asset manager Canary Capital has filed to list an exchange-traded fund (ETF) holding the Tron blockchain network’s native token, TRX (TRX), regulatory filings show.

The fund intends to hold spot TRX and stake a portion of the tokens for added yield, the filing said.

According to CoinMarketCap, the TRX token has a total market capitalization of more than $22 billion. Staking TRX generates an annualized yield of approximately 4.5%, data from Stakingrewards.com shows.

The filing is the latest in an outpouring of submissions aimed at listing ETFs holding alternative cryptocurrencies, or “altcoins.”

However, Canary’s proposed fund is relatively unique in requesting permission to stake its crypto holdings in its initial application. Other US ETFs, such as those holding the Ethereum network’s native token, Ether (ETH), have sought approval for staking only after successfully listing a fund holding the spot token. They are still waiting for a regulatory decision.

Tron is a proof-of-stake blockchain network founded by Justin Sun, who also owns Rainberry (formerly Bittorrent), the developer of the BitTorrent protocol.

In March 2023, the SEC sued Sun for allegedly fraudulently inflating the prices of the Tron token and BitTorrent’s BTT token.

In February, the SEC and Sun asked the judge overseeing the lawsuit to pause the case to allow the parties to enter into settlement talks.