Canary Capital Files for Staked TRX ETF with SEC Amid Growing Institutional Interest

Canary Capital has filed with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tracking the price of TRON’s native token, TRX. Named the Canary Staked TRX ETF, the proposed product would stake portions of its TRX holdings through third-party providers to generate additional yield, with BitGo serving as the custodian.

According to the Form S-1 filing submitted Friday, the ETF would follow TRX’s spot price using benchmarks provided by CoinDesk Indices. However, details such as the ETF’s ticker symbol and management fees remain undisclosed.

The inclusion of staking sets this proposal apart, reflecting a growing institutional appetite for crypto products with yield-generating features. While earlier filings for spot Ethereum ETFs initially included staking, applicants later removed that functionality to secure regulatory approval under the SEC’s previous leadership, headed by Gary Gensler, who opposed staking-based products.

The regulatory climate may now be shifting under the leadership of new SEC Chair Paul Atkins, who is perceived as more crypto-friendly. This change has fueled optimism among asset managers that staking components may eventually be permitted in ETF structures.

Grayscale, for instance, is still awaiting a decision on its proposal to include staking in both the Grayscale Ethereum Trust ETF (ETHE) and the Grayscale Ethereum Mini Trust ETF. The SEC recently delayed a ruling on those requests, signaling that regulatory clarity on staking ETFs is still evolving.

If approved, Canary Capital’s TRX ETF would be among the first U.S.-listed crypto ETFs to incorporate staking, potentially setting a precedent for future blockchain-based fund offerings as demand for diversified crypto investment vehicles continues to grow.