"The first ETF of its kind? TRON (TRX) knocks on Wall Street's doors with staking rewards!"
In a move that could represent a new turning point in the world of cryptocurrencies, Canary Capital has officially filed with the U.S. Securities and Exchange Commission (SEC) to launch the first ever spot ETF for TRON (TRX), featuring staking rewards, making it the first of its kind.
The proposed new financial product, named Canary Staked TRX ETF, aims to provide traditional investors with a simplified way to gain exposure to TRX price movements while simultaneously benefiting from the staking yields offered by the network. BitGo Trust has been selected as the custodian for the TRX assets of the fund.
Interestingly, TRON's founder, Justin Sun, has expressed his full support for the initiative, which has heightened expectations regarding major financial institutions entering the investment space for TRX should this fund be approved.
However, despite this news, markets have not seen significant movement in TRX's price so far, and the final decision rests with the SEC, which has yet to announce its ruling. Investors should closely monitor regulatory developments and potential market impacts before making any investment decisions.
