Overview

Canary Capital has initiated a plan to introduce a U.S. spot ETF that aims to track the TRX token of Tron while incorporating staking functionalities.

The Canary Staked TRX ETF application was lodged with the Securities and Exchange Commission (SEC) last Friday. If sanctioned, the fund would allocate parts of its assets to staking through third-party providers, with BitGo serving as the custodian. Price tracking would leverage CoinDesk Indices’ metrics.

Key Points:

• Canary Capital is pursuing a Tron ETF designed to accommodate staking.
• BitGo will manage the fund’s assets, and CoinDesk Indices is set to provide the pricing data.
• Historically, the SEC has hesitated to endorse staking features in crypto ETFs. However, current leadership may be more open to these innovations.

This application follows a recent SEC deferral of a decision regarding staking in a separate Grayscale Ethereum Trust ETF proposal.