TRON Native Token's First US Spot ETF Debuts with Zero Inflows

The TRON native token's first US spot exchange-traded fund (ETF), Canary Staked TRX ETF, listed on Cboe BZX with a trading volume of $16,700 on its debut day. The ETF, trading under the ticker TRXS, had zero net inflows recorded on September 10, Eastern Time.

The ETF is structured as a Delaware statutory trust and seeks to provide exposure to the spot price of TRX through participation in the TRON network's delegated proof-of-stake (DPoS) validation process. The sponsor intends to stake at least 90% of the trust's TRX through third-party staking providers, with aggregate staking fees capped at 20% of rewards generated.

The seed capital placed before the listing explained the opening balance, which stood at approximately $50.38 million on September 10. The sponsor fee is set at 1.10% of TRX holdings annually, accrued daily and payable monthly.