#TRXETF
Here's some good news about TRX ETF ¹ ²:
- *Canary Capital Files for Staked TRX ETF*: Canary Capital, a US asset manager, has filed for a staked TRX ETF with the SEC. This ETF would allow investors to gain exposure to TRX while earning staking rewards, potentially boosting the token's adoption and price.
- *Potential Approval Boost*: The recent change in SEC leadership under the Trump administration has led to increased optimism about crypto ETF approvals. Industry analysts believe that this shift could lead to multiple altcoin ETFs, including TRX, being approved by mid-2025.
- *TRX Price Movement*: Although TRX's price hasn't reacted positively to the ETF news yet, trading at $0.24 with a 1.28% daily drop, some analysts predict a potential surge if the ETF gets approved. If TRX holds its current support level and stays above the 50-day moving average, it could move up toward $0.30.
- *Increased Adoption*: A TRX ETF could attract more institutional investors, potentially increasing demand and driving up the price. With a market cap of $22.9 billion, TRX is the 9th largest cryptocurrency, and its growing adoption could lead to further growth.
