Crypto
TRON Staking-Enabled ETF Launches on Cboe
The first staking-enabled ETF for TRON (TRX) has launched on Cboe, the US-based exchange. The Canary Staked TRX ETF, ticker symbol TRXS, offers exposure to TRX's price and allows investors to participate in the TRON network's consensus algorithm through staking. Staking rewards are distributed daily, after deducting staking-related fees.
The ETF has a management fee of 1.10% per annum, with BitGo serving as custodian and Luganodes providing staking services. As of September 8, the NAV was $25 per unit, with an AUM of approximately $50 million. The staking ratio stood at 90%, which includes assets currently being staked and those waiting to be staked.