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Koinbulteni · 2025-04-19T07:49:51+00:00

Canary Capital applies for a spot ETF tracking TRX price with staking feature. The ETF, Canary Staked TRX, will stake assets via third-party providers and be protected by BitGo, based on CoinDesk Indices calculations. The proposal suggests a contrasting approach to prior Ethereum ETF rejections by SEC. Under new leadership, a crypto-friendly stance is anticipated, supporting hopes for the TRX ETF's approval and the potential launch of ETFs linked to other cryptocurrencies.

Koinbulteni

2025-04-19 07:49:51

Abstract generation in progress

Canary Capital has filed for a spot ETF that will track the price of the TRX token and include a staking feature.

Canary Capital has submitted an application for a spot ETF that will track the price of the TRX token and will have a staking feature. The company submitted the application to the SEC on ( last Friday.

The fund named Canary Staked TRX ETF will stake a portion of its assets through third-party providers and will be secured by BitGo. The ETF will track the spot price of TRX based on the calculations of CoinDesk Indices.

The potential ticker name of the fund and the management fee have not yet been disclosed. However, this application proposes a TRX ETF with a staking feature, unlike the Ethereum ETFs that were previously rejected by the SEC.

During the tenure of former SEC chairman Gary Gensler, a contrary stance was taken on staking features; however, with the presidency of Paul Atkins, hopes have risen with the adoption of a crypto-friendly approach. Recently, it was reported that the staking decision on Grayscale’s Ethereum ETF application had been postponed.

Canary Capital plans to launch ETFs based not only on TRX but also on cryptocurrencies such as Pengu, Sui, Hedera, and Litecoin.

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