Tron's First US Staked ETF Lands with High Fee

The first US staked Tron ETF has launched on Cboe, offering investors exposure to TRX and its delegated proof-of-stake rewards. The fund, called Canary Staked TRX ETF (TRXS), lists a 1.10% sponsor fee, significantly higher than its competitors.

Canary Capital's TRXS began trading with $50.25 million in assets, with 90% of those holdings staked through validator operator Luganodes. However, the net and gross staking yields are currently unavailable due to the fund's recent inception on September 8.

The rewards from staking do not reach shareholders as income but instead accrue into the daily net asset value after staking fees have been deducted. BitGo Trust Company custodies the TRX, while U.S. Bank administers the fund.

Canary is positioning Tron as a critical piece of infrastructure for digital asset payments and settlement, citing its growing adoption and significant transaction volume. The network carries over $94 billion in circulating Tether and has processed roughly $5.6 trillion this year.