Canary Capital Launches First US Spot Staked TRX ETF

Canary Capital Group LLC has launched the first US spot staked TRX ETF (Ticker: TRXS). This fund aims to provide exposure to the spot price of TRX, the native utility token of the TRON blockchain network. In addition, it seeks to earn additional TRX through participation in the TRON network's delegated proof-of-stake validation process.

According to Steven McClurg, CEO of Canary Capital, 'The Canary Staked TRX ETF brings investors exposure to one of the world's largest blockchain settlement networks through a registered exchange-traded structure.' He also stated that investors are increasingly looking beyond digital assets themselves and toward the networks driving real-world blockchain adoption.

TRON has emerged as one of the leading blockchain networks for stablecoin activity, supporting over $94 billion in circulating Tether (USDT). The chain processes the highest USDT transfer volume of any blockchain, totaling approximately $5.6 trillion year-to-date.