Canary’s Staked TRX ETF Begins Trading on Cboe BZX Exchange
TRXS offers brokerage-account exposure to TRX and seeks additional TRX through staking, with a 1.10% sponsor fee.
The Canary Staked TRX ETF began trading on Cboe BZX on Sept. 9, giving U.S. investors brokerage-account exposure to TRX while seeking additional TRX through staking.
The fund’s registration statement became effective Sept. 8 at 9 a.m. ET (13:00 UTC). Cboe BZX scheduled the new-issue auction to open at approximately 9:30 a.m. ET (13:30 UTC) on Sept. 9.
TRXS is structured as a Delaware statutory trust holding TRX. Its primary objective is to reflect the value of the TRX held by the trust, less expenses and liabilities. Its secondary objective is to earn additional TRX through delegated proof-of-stake participation.
The sponsor generally plans to stake 90% or more of the trust’s TRX, while retaining tokens needed for redemptions, expenses and other purposes. BitGo serves as custodian, while Canary Capital administers the staking program through selected staking providers.
As of Sept. 21, TRXS reported net assets of $51,582,668.11, 2,030,000 shares, a $25.41 net asset value and a 1.10% sponsor fee.
The product gives investors access to TRX through a brokerage account without requiring them to hold the token directly. Staking rewards are not guaranteed, and TRXS is not a direct investment in TRX.
Although marketed as an ETF, TRXS is legally an exchange-traded product that is not registered under the Investment Company Act of 1940. It therefore does not have the same protections as registered ETFs or mutual funds.
“The launch of the Canary Staked TRX ETF demonstrates the growing recognition of the TRON network as critical infrastructure for the global digital economy and provides institutional investors with a new way to access a network that is already powering real-world financial activity at scale,” Justin Sun, founder of TRON, said.
TRON had $94.3 billion in USDT supply and $24.5 billion in 24-hour transfer volume as of Sept. 25, 2026, UTC. Those figures measure activity on the network and do not indicate demand for TRXS or the fund’s performance.
