Canary Capital Files for Tron ETF with Staking Capability
Author: Helen Brown | Edited by: Nikhilesh De Updated: Apr 21, 2025 2:27 PM Published: Apr 18, 2025 9:07 PM
According to the announcement, Canary Capital plans to launch an exchange-traded fund (ETF) that will track the price of Tron’s native token, TRX.
The hedge fund filed a Form S-1 for the Canary Staked TRX ETF with the Securities and Exchange Commission on Friday. As the name suggests, the fund — if approved — will stake a portion of its assets.
This will be done through third-party providers, with BitGo acting as the asset custodian. The fund will track the spot price of TRX using CoinDesk Indices calculations.
Information about the proposed ticker symbol and the size of the product management fee is not disclosed at this time.
Issuers initially filed for Ethereum (ETH) spot ETFs with staking functionality enabled, but later removed it in an amended version of the filing to gain approval for their proposals from the SEC.
While the Securities and Exchange Commission (SEC) under former Chairman Gary Gensler was staunchly against staking, issuers have become more optimistic about adding the feature to their Ethereum spot funds, especially since the appointment of crypto-friendly Chairman Paul Atkins.
A decision on Grayscale’s February request to allow staking in the Grayscale Ethereum Trust ETF (ETHE) and Grayscale Ethereum Mini Trust ETF (ETH) was delayed by the regulator just a few days ago.
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