TRON Enters Wall Street with First US Staked TRX ETF

Canary Capital has launched the first U.S.-based ETF tied to the TRON cryptocurrency ecosystem, called the Canary Staked TRX▲$0.3220 ETF or TRXS for short.

The TRXS ETF began trading on September 9 under the ticker TRXS and allows investors to gain exposure to TRX through traditional brokerage accounts without needing to buy the token or maintain a crypto wallet.

Canary Capital's primary investment objective is to increase the value of TRX, measured by its holdings minus expenses and liabilities. The secondary goal is to generate TRX through staking, with nearly all assets expected to participate in staking. Fees will top out at 20% of rewards, which are then factored into daily net asset value calculations.

The TRXS ETF charges an annual sponsor's fee equal to 1.10% of the trust's TRX holdings and is administered by U.S. Bancorp Fund Services.