Canary Staked TRX ETF Takes Step Closer to Listing with Final Prospectus Filing

Canary Capital has taken another step towards launching the Canary Staked TRX ETF (TRXS) after filing its final prospectus on September 8. The proposed exchange-traded product is expected to list on the Cboe exchange, but a notice of issuance will be required before trading begins.

The trust aims to hold TRX and provide exposure to the token's price after operating expenses and liabilities are deducted. Its secondary objective is to earn additional TRX through staking in the Tron network.

According to the prospectus, Canary Capital anticipates staking at least 90% of the trust's TRX under normal circumstances. The aggregate fees charged by the custodian, staking provider, and sponsor are expected to equal 20% of staking rewards, leaving the trust with the remaining 80%.

The filing lists several risks that could affect staking results, including validator performance, slashing, liquidity around redemptions, and changes to Tron's network rules. There is also no assurance that the trust will generate a profit.