Canary Capital Launches First US Spot Staked TRX ETF
Canary Capital Group LLC has launched the Canary Staked TRX ETF (Ticker: TRXS), providing investors with exposure to the spot price of TRX, the native utility token of the TRON blockchain network.
The fund also seeks to earn additional TRX through participation in the TRON network's delegated proof-of-stake validation process, with net staking rewards reflected in the fund's net asset value.
'The Canary Staked TRX ETF brings investors exposure to one of the world's largest blockchain settlement networks through a registered exchange-traded structure,' said Steven McClurg, CEO of Canary Capital. 'As stablecoin adoption continues to grow globally, TRON has become a critical piece of the infrastructure powering digital asset payments and settlement.'
The TRON network supports more than $94 billion in circulating Tether (USDT), with approximately $5.6 trillion in USDT transfer volume year-to-date.