#TRXETF
Canary Capital has filed an application with the US Securities and Exchange Commission (SEC) to launch a staked TRX ETF, called Canary Staked TRX ETF. This exchange-traded fund would track the price of TRON (TRX) and allow investors to earn rewards through staking. Here's what you need to know ¹ ²:
- *ETF Details*:
- *Custodian*: BitGo Trust Company will safeguard TRX assets.
- *Staking*: A portion of TRX holdings will be staked through third-party providers to generate rewards.
- *Price Tracking*: The ETF will use CoinDesk Indices to calculate its net asset value.
- *Potential Impact*:
- *Increased Adoption*: The ETF could attract more investors, particularly those who prefer traditional investment methods.
- *Market Sentiment*: Despite the filing, TRX's market sentiment remains neutral to bearish, with some analysts predicting a potential price drop.
- *TRX Performance*:
- *Current Price*: TRX is trading at around $0.2415, with a 1.87% drop in the last 24 hours and a 3.06% decline in the last 7 days.
- *Market Capitalization*: TRX has a market capitalization of over $22 billion.
The approval of this ETF could be a significant development for TRON and the broader cryptocurrency market, potentially paving the way for more altcoin ETFs. However, the SEC has not yet approved the application, and the outcome remains uncertain ².