Tron Staking ETF Pioneers New Frontier in US Crypto Market

Canary Capital is poised to make history in the US ETF market with its staked Tron ETF, TRXS, set to list on the Cboe BZX Exchange on September 9. This innovative fund will provide investors with exposure to Tron's TRX token while simultaneously staking the underlying assets for yield.

The ETF essentially allows traditional brokerage account holders to earn staking rewards from Tron's proof-of-stake network without ever having to touch a crypto wallet. Under normal market conditions, the ETF will stake at least 90% of its TRX holdings, with staking service fees capped at 20% of rewards.

This means that 80% of net staking income flows directly into the trust's net asset value, boosting the per-share price over time. Investors don't receive staking rewards as separate distributions; instead, the value accrues within the fund itself.

The custody arrangement splits responsibilities between two entities: US Bank handles cash custody, while BitGo Bank & Trust manages the actual TRX holdings. Canary Capital will charge a 1.10% annual sponsor fee, payable monthly in either TRX or cash.