#TRXETF The ticker symbol "TRXETF" currently refers to a proposed Exchange Traded Fund (ETF) that would hold the cryptocurrency TRON (TRX). As of today, Monday, April 21, 2025, this ETF is not yet trading as it is still in the application and approval process with the U.S. Securities and Exchange Commission (SEC).

Here's a breakdown of what we know about the proposed TRX ETF:

Key Information:

* Filer: Canary Capital, an asset management firm, submitted the proposal to the SEC on April 18, 2025.

* Name: The proposed ETF is dubbed the "Canary Staked TRX ETF."

* Objective: The fund aims to track the spot price of TRON (TRX).

* Unique Feature: Staking: Unlike many other proposed crypto ETFs that only track the price of an asset, this ETF intends to stake a portion of the held TRX. Staking involves locking up cryptocurrency to support the blockchain network's operations, and in return, stakers typically earn rewards. The proposal suggests an estimated annual yield of around 4.5% through these staking rewards, which would be reinvested into the trust, potentially increasing its net asset value (NAV).

* Custodian: Coinbase Custody Trust Company is slated to be the custodian for the TRX holdings.

* Pricing: The TRX pricing for the ETF will be based on CoinDesk Indices.

* Structure: The fund will be structured as a commodity investment trust backed by TRX. Investors holding shares in the ETF will have an economic interest in the trust but will not directly own the TRX.

* Management Fees and Ticker: The management fee rate and the official ticker symbol for the ETF have not been announced yet.

Significance and Potential Impact:

* First Staked Altcoin ETF: If approved, the Canary Staked TRX ETF would be the first ETF in the U.S. to offer staking rewards to investors. This could be a significant development, potentially opening the door for more staking-based crypto investment products.