#TRXETF

TRX Explosion: The First American ETF of Its Kind Ignites the Crypto Market!🌋📈

#TRXETF On April 19, 2025, Justin Sun, the founder of the TRON network, announced that "Canary Capital" submitted an official application to the U.S. Securities and Exchange Commission (SEC) to launch a new exchange-traded fund (ETF) known as the "Canary Staked TRX ETF".

Key Features of the Fund:

1- Tracking the Spot Price of TRX: The fund aims to monitor the spot price of TRON (TRX) in the market.

2- Providing Returns through Staking: The fund plans to provide an annual return of about 4.5% to investors by staking a portion of the held TRX tokens.

3- Custody Management by BitGo: BitGo will be responsible for the custody of the fund's digital assets, enhancing asset security.

This fund is considered the first of its kind in the United States that combines tracking the spot price of a digital currency with providing returns through staking, making it an innovative step in the field of cryptocurrency-related exchange-traded funds.

Impact of the Announcement on the Market:

1- Rise in TRX Price: TRX saw an increase of 12% within one hour of the announcement, with the price rising from $0.130 to $0.145.

2- Increase in Trading Volume: The daily trading volume of TRX doubled from 1.5 billion to 3.2 billion TRX, reflecting growing interest from investors.

3- Growth in Market Capitalization: The market capitalization of TRX increased by 10% to reach $5.5 billion.