#TRXETF TRXETF Canary Capital has submitted a Form S-1 registration with the U.S. Securities and Exchange Commission (SEC) to launch a spot Bitcoin exchange-traded fund (ETF) focused on Tron (TRX).

The proposal filed on April 18 is the first of its kind to offer investors exposure to TRX market performance while also providing staking rewards. This distinguishes the fund from previous spot crypto ETF proposals.

TRX ETF Canary Capital Could Test SEC's Attitude Towards Staking Assets

The filing designates BitGo Trust Company as the custodian for TRX holdings and appoints Canary Capital as the fund's sponsor.

Justin Sun, the founder of Tron, responded to this development by urging U.S. investors to act quickly. He emphasized the long-term growth potential of TRX and suggested that institutional interest is likely to increase if the ETF is approved.