Canary Capital Aims to Launch Staked Tron (TRX) ETF, Files with SEC
Canary Capital is taking another bold step into the crypto investment space with plans to launch an exchange-traded fund (ETF) tied to the real-time price of Tron’s native token, TRX. The Nashville-based firm officially filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) on Friday for what it calls the Canary Staked TRX ETF.
Unlike traditional ETFs, this proposed fund aims to do more than just mirror TRX’s market price. If approved, it will actively stake a portion of its TRX holdings through third-party providers, giving investors the potential to earn passive rewards alongside capital appreciation.
BitGo Tapped as Custodian, CoinDesk Indices to Power Pricing to ensure security and transparency, Canary Capital has appointed BitGo as the custodian responsible for safeguarding the fund’s assets. The spot price of TRX will be tracked using CoinDesk Indices, ensuring accurate and reliable valuation data for investors.
As of now, the ETF’s proposed ticker symbol and management fee structure remain under wraps, but more details are expected as the application progresses.
Staking in ETFs: A Shifting Regulatory Landscape
The inclusion of staking in crypto ETFs has been a contentious topic for regulators. Previously, several issuers filed for spot Ethereum (ETH) ETFs that featured staking but later revised their applications to exclude the feature, largely to improve their chances of gaining SEC approval under the leadership of former Chair Gary Gensler, who took a hardline stance against staking.
However, the outlook is beginning to shift. With the appointment of Paul Atkins, a more crypto-friendly SEC Chair, optimism has grown among asset managers that staking components could be reintroduced into future ETF filings.
That optimism was recently tempered when the SEC postponed a decision on Grayscale’s request to incorporate staking into both its Ethereum Trust ETF (ETHE) and its Ethereum Mini Trust ETF (ETH). Though delayed, the decision signals that the regulator is actively evaluating the potential for staking within ETF structures.
