Canary Capital Seeks SEC Approval for Tron ETF With Staking
Canary Capital filed an S-1 prospectus with the U.S. Securities and Exchange Commission for a spot Tron ETF, featuring staking capabilities to allow investors to earn additional yield. The fund aims to provide exposure to Tron’s price. Canary has previously filed for multiple crypto ETFs, including those for Sui, Pudgy Penguins, and XRP. This surge in ETF applications follows the successful launch of Bitcoin and Ethereum tracking funds, which attracted over $35 billion in net inflows. The prospectus did not specify the exchange for trading. Staking, a process involving proof-of-stake assets for rewards, remains controversial among regulators. The SEC has not yet approved staking in crypto ETFs and recently delayed a decision on Grayscale’s proposed rule change for spot ETH funds. Tron (TRX), the ninth-largest cryptocurrency with a $23 billion market cap, is currently trading around $0.24, having increased approximately 120% over the past year. Major fund issuers like BlackRock and VanEck are also seeking SEC approval for various digital asset ETFs, with XRP and Solana seen as likely candidates for approval.
