SEC has accepted for review the application from Canary Capital for the launch of a spot TRX-ETF. The SEC accepted the 19b-4 application for the spot TRX-ETF from Canary Capital.
The Commission has 240 days to make a decision regarding it.
The company has also submitted applications for a number of other funds based on altcoins.
The U.S. Securities and Exchange Commission (SEC) has accepted for review the application from Canary Capital for the launch of a spot ETF based on TRON (TRX). A distinctive feature of this case is the staking, which is already included in the fund's structure.
$TRX
This application was submitted by Canary Capital back in mid-April 2025. It is known that it will be traded on the Cboe exchange, if approved. The custodian will be BitGo Trust Company.
This is the first spot TRX-ETF in the U.S. in principle. Moreover, staking has been included in its structure from the very beginning, which is not present in most other applications for funds based on altcoins.
The SEC's approval of the papers means the start of the final deadline of 240 days, during which the regulator must make a decision regarding them. However, as Bloomberg Intelligence expert James Seyffart believes, the Commission is likely to use the full allotted time.
He predicted the approval of the first spot ETFs based on altcoins in the U.S. in the fourth quarter of 2025.
Despite the positive news, TRX is trading down by 3%. This is due to the overall crash in the cryptocurrency market:
