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The countdown for TRX has begun: The first application has arrived.
The American investment firm Canary Capital has applied to the Securities and Exchange Commission for a new exchange-traded fund named "Canary Staked TRX ETF" that will track the price of the Tron network's token TRX one-to-one and will also offer staking payments (ETF) (SEC).
If the fund is approved, a portion of the TRX balances in its portfolio will be evaluated through third-party staking providers; the responsibility for the custody of digital assets will be undertaken by BitGo, which provides cryptocurrency custody and security services.
Unlike the strict stance during the tenure of former chairman Gary Gensler, the likelihood of the SEC, under the leadership of new chairman Paul Atkins, known for his crypto-friendly views, giving the green light to staking-enabled ETFs has increased. Indeed, the agency had postponed the request from Grayscale to include staking revenues in its Ethereum Trust ETFs on April 15, stating it needed "more time to review".
If launched, the Canary Staked TRX ETF will be the first product offering staking returns among spot crypto ETFs in the US.
On the other hand, this development had no significant impact on the TRX price. At the time of writing, TRX is trading at around $0.24.
Published: April 19, 2025 12:15