The U.S. Securities and Exchange Commission (SEC) has officially acknowledged the submission of a staking-based ETF proposal for the cryptocurrency Tron (TRX) by Canary Capital. This move has sparked renewed optimism among TRX supporters and the broader crypto market, especially amid ongoing delays for similar ETFs, such as one for Ethereum.
🔹 SEC Opens Public Comment Period
According to its latest announcement, the SEC has formally received a 19b-4 rule change filing submitted via the Cboe BZX Exchange on behalf of Canary Capital. This confirmation marks an important step in the ETF approval pipeline.
The SEC is now inviting public comments on the proposal, a standard step in the review process. However, it also signals that regulators are seriously evaluating the request.
🔹 What Is the TRX Staking ETF?
The proposed ETF would allow investors to earn staking rewards from TRX tokens simply by holding shares of the fund—without needing to interact directly with staking platforms or blockchain infrastructure.
The ETF would securely hold TRX in cold storage, and share issuance and redemption would occur exclusively in cash, similar to recently approved ETFs for Bitcoin and Ethereum. The Cboe BZX proposal also claims that TRX’s market structure and oversight provisions make the asset resistant to manipulation.
🔹 Analysts See Positive Signal
Bloomberg analyst James Seyffart reacted positively to the development, stating:
"The SEC has acknowledged Canary Fund’s TRX staking ETF filing – that’s a good sign in today’s regulatory environment."
He noted that this TRX staking ETF could become a breakthrough product, especially if approved before competing proposals like the 21Shares Ethereum staking ETF, which was recently delayed again.
🔹 Tron ETF vs. Ethereum ETF
While the SEC continues to postpone decisions on staking-based Ethereum ETFs, Canary Capital’s TRX proposal is now officially in motion. That gives TRX a potential first-mover advantage if it clears regulatory hurdles before Ethereum.
That said, it’s still unclear when or if the ETF will be approved. As of now, neither Canary Capital nor Tron representatives have issued public comments.
#Tron , #TRX , #etf , #SEC , #CryptoNewss
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