Canary Capital Launches First US Spot TRX ETF with Staking

Canary Capital has launched the first US spot TRX ETF with staking, which began trading on Cboe under the ticker TRXS. The fund tracks the value of TRX held on its balance sheet and participates in the Delegated Proof-of-Stake (DPoS) mechanism on the TRON network.

The fund's primary investment objective is to track the value of the TRX held on its balance sheet, net of expenses and liabilities. It charges an annual sponsor fee of 1.1% of its assets, which accrues daily and is paid monthly in TRX or cash.

At launch, TRXS had $50.25 million in net assets, with about 148.4 million TRX held by the fund. The number of shares outstanding reached 2.01 million at a NAV of $25 per share.