Canary Capital Submits TRX Staking ETF Application to US SEC – Coincu

Canary Capital submitted a registration application for the Canary Staked TRX ETF to the U.S. Securities and Exchange Commission on April 18, 2025, aiming to offer a crypto ETF focused on the TRON network.

TRX’s inclusion in a proposed staking ETF marks a significant move in crypto investment, potentially influencing market dynamics and attracting institutional interest.

Canary Capital Aims High with TRX Staking ETF Proposal

Canary Capital submitted an application for a TRX Staking ETF to the U.S. SEC. The proposed product aims to stake TRX tokens to generate yield for shareholders. Canary Capital also plans more crypto-related ETF offerings, asserting its growing ambition in the financial sector. BitGo Trust Company is appointed as the custodian.

Should approval occur, the ETF might influence TRON’s circulating supply and staking ratios. SEC approval might signal evolving regulatory attitudes toward crypto ETFs that include staking. Currently, the TRX network yields an annual return of 4.5% due to staking activities. Community sentiment appears cautiously optimistic, closely monitoring whether the new proposal navigates historical SEC opposition to staking ETFs. No official statements have been made from key TRON figures like Justin Sun yet.

“The Trust intends to establish a program to stake a portion of the Trust’s assets through one or more staking infrastructure providers.” — Canary Capital, Sponsor at Canary Capital, SEC Filing

SEC’s TRX Decision: A Potential Market Game-Changer

Did you know? The SEC’s decision on TRX’s staking ETF could set a precedent, similar to the impact of Bitcoin and Ethereum ETF approvals, influencing crypto market expansions.

TRON, with a market cap of $22.94 billion, experienced significant trading activity recently. TRX price increased by 1.20% in the last 24 hours, despite a 9.68% decline in its 24-hour trading volume. The token’s value currently stands at $0.24, maintaining market dominance of 0.85%, according to CoinMarketCap. The TRX’s historical price movements indicate resilience with various fluctuations over the past 90 days.

The Coincu research team’s insights suggest the SEC’s decision may guide future ETF legislation, impacting how staking is integrated into financial products. This proposal might reflect broader shifts in regulatory frameworks, potentially affecting altcoin market landscapes. The crypto community anticipates the outcome, which might open doors for similar products.