The TRX ETF is making headlines, with Canary Capital filing a proposal for a staked TRX ETF with the U.S. Securities and Exchange Commission (SEC). This ETF would track the price of TRX, Tron's native token, and offer staking rewards, providing investors with a unique opportunity to earn passive income.
Here are some key points about the proposed TRX ETF:
- *Staking feature*: The ETF would allow investors to earn staking rewards, which currently offer an annual yield of approximately 4.5%.
- *Custodian and pricing*: BitGo Trust Company would serve as the custodian, and CoinDesk Indices would provide pricing data.
- *Market capitalization*: TRX has a market capitalization of over $22 billion, making it a significant player in the cryptocurrency market.
- *Regulatory implications*: The SEC's decision on this proposal could set a precedent for future cryptocurrency ETFs, particularly those with staking features.
Overall, the proposed TRX ETF represents an exciting development in the cryptocurrency space, offering investors a new way to engage with TRX and potentially earn passive income.
