Crypto
Canary Capital's Staked Tron ETF Seeks September 9 Launch
Canary Capital's staked Tron ETF is set to launch on September 9 under the ticker TRXS, according to ETF analyst Henry Jim. The fund will package spot TRX exposure and staking rewards in a U.S.-traded investment product.
The proposed ETF aims to track the value of TRX while generating extra tokens through staking. At least 90% of the trust's holdings should be staked, with service providers receiving 20% of the staking rewards.
Canary will charge a 1.10% annual sponsorship fee in TRX, and there is a liquidity limit to consider. The Tron blockchain has an unstaking requirement of 14 days, after which tokens would be frozen.