TRON's TRX Token Enters US ETF Market with Canary Capital
Canary Capital has launched the first US exchange-traded fund (ETF) that holds TRON's native token, TRX. The Canary Staked TRX ETF, trading under the ticker TRXS, began its market debut on Wednesday.
The fund seeks to track the spot price of TRX while participating in the TRON network's delegated proof-of-stake validation process. Net staking rewards are folded into the fund's daily net asset value rather than distributed separately to shareholders.
TRXS gives investors a brokerage-based route to TRX without requiring them to hold the token directly, manage wallets, or navigate the technical mechanics of staking.
The product is listed on Cboe and has an annual sponsor fee set at 1.10% of its TRX holdings, with staking fees capped at 20% of the rewards generated.