Canary Capital Launches First US Spot Staked TRX ETF
Canary Capital Group LLC has launched the Canary Staked TRX ETF (Ticker: TRXS), providing exposure to the spot price of TRX, the native utility token of the TRON blockchain network. The fund also earns additional TRX through participation in the TRON network's delegated proof-of-stake validation process.
In a statement, Steven McClurg, CEO of Canary Capital, said 'The Canary Staked TRX ETF brings investors exposure to one of the world's largest blockchain settlement networks through a registered exchange-traded structure, while also enabling investors to benefit from potential staking rewards.'
The TRON network is governed by TRON DAO, a community-governed Decentralized Autonomous Organization (DAO) dedicated to accelerating the decentralization of the internet through blockchain technology and decentralized applications (dApps).
Justin Sun, Founder of TRON, said 'The launch of the Canary Staked TRX ETF demonstrates the growing recognition of the TRON network as critical infrastructure for the global digital economy and provides institutional investors with a new way to access a network that is already powering real-world financial activity at scale.'