#TRXETF
Canary Capital has officially submitted a request for a Tron-based Exchange-Traded Fund (Tron ETF) to the U.S. Securities and Exchange Commission (SEC), aiming to provide investors an opportunity to track the price movements of Tron (TRX) while earning rewards on their deposits.
This represents the sixth proposal from Canary for an exchange-traded fund for alternative cryptocurrencies, joining its previous requests for funds related to Pengu, Sui, XRP, Hedera, and Polkadot.
This ETF will use BitGo Trust as its custodian, designed to allow investors to benefit from deposit returns alongside traditional price tracking.
This is an important step, as previous exchange-traded funds for cryptocurrencies - such as those for Bitcoin and Ethereum - did not initially include deposit capabilities.
With the SEC reviewing several proposals for exchange-traded funds for alternative cryptocurrencies, analysts believe that the XRP and Solana funds may be next in line for approval.
If this trend continues, it could indicate broader acceptance of cryptocurrency exchange-traded funds beyond Bitcoin and Ethereum, potentially opening the door to more institutional investment in alternative cryptocurrencies.
Are you considering investing in a TRX ETF
#BNBChainMeme #SaylorBTCPurchase #BinanceAlphaAlert #BinanceAlphaAlert