Canary Capital Debuting First US Staked TRX ETF This Wednesday

Canary Capital is set to launch its first US-based staked TRX ETF on Wednesday. The new fund, trading under the symbol TRXS, will offer both exposure to TRX and staking capabilities.

The TRXS ETF will track the price of TRX, but it can also earn additional tokens by participating in Tron's proof-of-stake mechanism. According to Canary Capital, the fund's net asset value will reflect the staking rewards received.

TRX is currently the eighth-largest cryptocurrency, with a market capitalization of $32.1 billion, as per CoinGecko data.

Justin Sun, founder of Tron, stated that the ETF provides institutional investors with another way to gain exposure to the network, highlighting the growing recognition of Tron's role in the global digital economy.