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Canary Capital is preparing to make its next move in the crypto ETF race — this time with a product centered on Tron’s TRX token.
The firm has filed preliminary paperwork with the U.S. Securities and Exchange Commission, signaling plans to roll out a staked TRX exchange-traded fund.
Unlike traditional ETFs, this proposed fund would not only mirror the real-time price of TRX but also allow for a portion of the tokens to be actively staked. That means investors wouldn’t just be tracking the market — they’d indirectly gain exposure to staking rewards as well.
To manage custody, the firm has tapped BitGo, a familiar name in institutional crypto storage.
While the filing confirms the fund’s general structure, it leaves some key details — such as its official ticker and fee structure — to be revealed at a later stage. If approved, this would mark a notable entry into the growing field of altcoin-backed ETFs, especially those incorporating staking mechanics.
Canary’s move comes amid broader industry momentum to expand crypto-linked investment products, giving institutional investors new ways to tap into blockchain ecosystems without direct token management.
