#波场ETF #波场ETF

When the news of TRON wanting to push for an ETF came out, the entire Asian market was in an uproar. Sun Yuchen is really playing with fire this time, directly submitting the world's first TRX spot ETF application to the Hong Kong Securities and Futures Commission, clearly aiming to seize the opportunity before the Bitcoin ETF. The market's reaction was honest enough; within half an hour of the news breaking, TRX surged 18% instantly, dragging the entire TRON ecosystem's tokens into a collective frenzy.

But those in the know are sweating—it's true that TRON's on-chain USDT daily settlement volume crushes Visa, but the 70% centralized nodes and Sun Yuchen's dictatorial governance model perfectly align with the securities characteristics that the SEC despises 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 critical support level of $0.14.

Industry insiders reveal that this application is essentially a high-stakes gamble. If Hong Kong opens this door, it would be equivalent to indirectly acknowledging that TRON is not a security, and Sun Yuchen could take his imperial sword back to the U.S. market. But do you think the regulatory agencies will buy it? Just look at those faintly visible short contracts, and you'll know that the big players are betting on the outcome of this farce.