CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Moralis Money
CoinTelegraph 2025-04-18 21:31:56

Canary Capital files for staked TRX ETF

United States asset manager Canary Capital has filed to list an exchange-traded fund (ETF) holding the Tron blockchain network’s native token, TRX ( TRX ), regulatory filings show. The fund intends to hold spot TRX and stake a portion of the tokens for added yield, the filing said . According to CoinMarketCap, the TRX token has a total market capitalization of more than $22 billion. Staking TRX generates an annualized yield of approximately 4.5%, data from Stakingrewards.com shows . The filing is the latest in an outpouring of submissions aimed at listing ETFs holding alternative cryptocurrencies, or “altcoins.” However, Canary’s proposed fund is relatively unique in requesting permission to stake its crypto holdings in its initial application. Other US ETFs, such as those holding the Ethereum network’s native token, Ether ( ETH ), have sought approval for staking only after successfully listing a fund holding the spot token. They are still waiting for a regulatory decision. Tron is a proof-of-stake blockchain network founded by Justin Sun, who also owns Rainberry (formerly Bittorrent), the developer of the BitTorrent protocol. In March 2023, the SEC sued Sun for allegedly fraudulently inflating the prices of the Tron token and BitTorrent’s BTT token. In February, the SEC and Sun asked the judge overseeing the lawsuit to pause the case to allow the parties to enter into settlement talks. Platforms for staking TRX. Source: Stakingrewards.com Related: Canary Capital proposes first Sui ETF in US SEC filing Altcoin ETF season Since US President Donald Trump took office in January, US regulators have acknowledged dozens of filings for proposed crypto investment products. They include plans for ETFs holding native layer-1 tokens such as Solana ( SOL ) as well as memecoins such as Official Trump (TRUMP). Since 2024, Canary has filed for several proposed US crypto ETFs, including funds holding Litecoin ( LTC ), XRP ( XRP ), Hedera ( HBAR ), Axelar (AXL), Pengu (PENGU), and Sui ( SUI ). Some industry analysts doubt that ETFs holding non-core cryptocurrencies will be embraced by traditional investors. “Most crypto ETFs will fail to attract AUM and cost issuers money,” crypto researcher Alex Krüger said in a March post on the X platform. Magazine: SEC’s U-turn on crypto leaves key questions unanswered

https://www.digistore24.com/redir/325658/ceobig/
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.