19-4-2025 – Canary Capital Group has lodged an application with the US Securities and Exchange Commission for a novel financial product: the Canary Staked TRX ETF, centred on the Tron blockchain.
The proposed investment vehicle, which awaits regulatory approval, aims to merge traditional exchange-traded fund structures with cryptocurrency staking benefits, offering passive income potential to investors. CSC Delaware Trust has been designated as trustee, whilst BitGo Trust Company will assume custodial responsibilities.
The Tron network has demonstrated remarkable resilience, boasting impressive metrics with $4.9 billion locked in decentralised finance protocols and a substantial stablecoin market capitalisation exceeding $68 billion. The platform’s recent performance indicators reveal approximately 2.3 million active wallet addresses within a 24-hour window, generating chain revenue of $1.82 million.
Technical analysis suggests bullish momentum for TRX, the network’s native token, as it establishes support near the $0.24 mark. Market observers note that sustained trading above this threshold, particularly in relation to the 50-day Moving Average, could catalyse an upward trajectory towards the $0.30 level.
Canary Capital’s strategic expansion in the cryptocurrency ETF space coincides with a perceived shift in regulatory sentiment under the Trump administration. The firm has diversified its portfolio by pursuing approval for various digital asset ETFs, including applications for Sui, Pudgy Penguins, Solana, XRP, and Hedera.
Whilst specific details regarding management fees and ticker symbols remain pending, industry analysts interpret this filing as evidence of growing institutional interest in Tron’s ecosystem. The blockchain has notably rekindled its presence in American markets following a period of geographic restrictions during the Biden presidency.
Market data indicates robust trading activity for TRX, with the cryptocurrency maintaining a fully diluted market value of approximately $22.8 billion and daily trading volumes averaging $464 million. The forthcoming ETF filing amendments are expected to provide additional clarity on the investment product’s structure and operational parameters.
