Canary Capital Files for Tron ETF with Integrated Staking
18.04.2025 22:42
Canary Capital has submitted a Form S-1 filing with the SEC for a new ETF, named the Canary Staked TRX ETF, which aims to track the spot price of TRX using CoinDesk Indices. The proposed product will not only hold TRX but also stake a portion of its holdings through third-party providers, with BitGo serving as the custodian. This move marks a significant development amid a shift in regulatory attitudes following previous resistance to staking in spot ETFs. Notably, similar proposals for Ethereum ETFs have encountered hurdles, but the recent appointment of crypto-friendly SEC Chair Paul Atkins has contributed to growing optimism among issuers. The filing comes in the wake of a postponed decision on Grayscale’s request to integrate staking into its Ethereum-based ETFs, underscoring a broader industry interest in combining asset management with staking rewards.
The news is likely to exert a favorable influence on TRX’s price. The introduction of an ETF with built-in staking capabilities signals enhanced utility and potential institutional interest, which could drive demand for TRX. Short-term, the anticipation of approval and increased asset inflows may stimulate buying momentum. In the long term, the added reward mechanism from staking, if successfully implemented, might contribute to sustained value appreciation. However, success will depend on regulatory approval and market reception, with trends from similar ETF filings supporting a cautiously optimistic outlook.
Sources
Top Today
today / 04:35
Trump-Linked WLF Partners With Pakistan Crypto Council to Boost Blockchain and DeFi Ambitions
WLF's new collaboration with the Pakistan Crypto Council is set to stimulate regulatory and technological growth in Pakistan's crypto sector.
today / 02:24
Ethereum Eyes $2,580 as Leadership Dialogue Spurs Bullish Momentum
Vitalik Buterin’s and Charles Hoskinson’s exchange drives renewed bullish sentiment for Ethereum’s near-term rally.
yesterday / 22:03
Bitget Initiates Legal Action Over $20M VOXEL Manipulation Incident
Eight accounts face legal scrutiny over VOXEL trade manipulation, prompting calls for better risk control and regulatory oversight.