#波场ETF #波场ETF

When the news about Tron wanting to push the ETF broke, the entire Asian market exploded. Sun Yuchen is indeed playing a risky game this time, directly submitting the world's first TRX spot ETF application to the Hong Kong Securities and Futures Commission, clearly trying to eat the crab before the Bitcoin ETF. The market reaction was quite honest; within half an hour of the news, TRX surged 18%, leading to a collective uprising of tokens within the entire Tron ecosystem.

But those in the know are sweating — the daily settlement volume of USDT on the Tron chain indeed crushes Visa, but the 70% centralized nodes and the governance model dictated by Sun Yuchen perfectly align with the securities characteristics that the SEC hates the most. More dramatically, on the very day the application was submitted, an abnormal transfer of 290 million TRX suddenly appeared on the Tron chain, directly breaking through the key support level of $0.14.

Insiders reveal that this application is essentially a gamble. If Hong Kong opens this door, it would be equivalent to indirectly acknowledging that Tron is not a security, allowing Sun Yuchen to return to the U.S. market with a legal sword. But do you think the regulatory authorities will buy it? Just look at those vague short-selling contracts, and you'll know that the big players are betting on the outcome of this farce.