#TRXETF Canary Capital has filed for a TRON (TRX) staking ETF with the US Securities and Exchange Commission (SEC). This proposed ETF, called Canary Staked TRX ETF, aims to provide investors with exposure to TRX price movements while generating staking rewards. Here's what you need to know ¹ ²:

- *ETF Details*:

- *Custodian*: BitGo Trust Company will safeguard TRX assets.

- *Staking*: The ETF will stake portions of its TRX holdings through third-party providers to earn rewards.

- *Tracking*: The fund will track TRX's spot price using CoinDesk Indices calculations, minus expenses.

- *Potential Impact*:

- *Increased Adoption*: The ETF could simplify TRX investment for traditional investors, potentially driving up demand and prices.

- *Market Sentiment*: Despite the filing, TRX's current market sentiment remains neutral to bearish, with some analysts predicting a potential price drop.

- *TRX Performance*:

- *Current Price*: TRX is trading at around $0.24, with a 1.28% drop on daily charts and a 2.8% decline on weekly charts.

- *Market Cap*: TRX has a market capitalization of $23.54 billion.

The approval of this ETF could be a significant development for TRX, potentially paving the way for more institutional investors to enter the market. However, the SEC's decision on the ETF is still pending ³.