Key dealers
- Canary Capital that was submitted for the first US-listed ETF for TRON TRX containing staking features.
- ETF aims to simplify the TRX investment for traditional investors by tracking their spot prize and offering staking rewards.
Canary Capital has submitted an application for the first US-listed ETF focused on the TRX TRX to include the Staking feature, according to a new Sec File.
The proposed fund, called the Canary Staked TRX ETF, plans to track TRX’s spot price using Coindesk index calculations, minus expenses. Bitgo Trust Company will provide custody services for TRX Holdings.
As mentioned in the archiving, the fund would stake parts of its TRX holdings through third-party suppliers to serve rewards, with Bitgo that maintains control over private keys. The ETF structure aims to simplify TRX investment for traditional investors.
The management fee and the ticker symbol have not yet been announced.
TRX operates on Tron Blockchain, which was launched in 2017 and uses a delegated proof-of-stake model that can process up to 2,000 transactions per second, according to archiving. The network focuses on content sharing, games and defi applications.
At the time of writing, TRX was traded to about $ 0.24, slightly after the ETF archives appear, according to data From Coytecko.
Canary Capital actively continues the launch of several Krypto-ETFs in the United States and utilizes the newly established pro-crypto, Pro-Innovation-Regulation and Legislative Environment during the new administration.
Asset management company as well Log in an S-1 application For the first US ETF to track the spot price for SUI (SUI).
Beyond TRX and SUI, Canary is looking for the Sec Nicken to offer ETFs that track several other crypto assets, such as Solana (sun), Litecoin (LTC), XRP, Hedera (Hbar) and Axel (AXL). The company also applied for a groundbreaking ETF bound to the Pudgy Penguins NFT collection.
