The post Canary Capital Launches TRX ETF for Enhanced Returns appeared on BitcoinEthereumNews.com.

Canary Capital, a player in the cryptocurrency investment management arena, has filed an application with the U.S. Securities and Exchange Commission (SEC) to establish an exchange-traded fund (ETF) named “Canary Staked TRX ETF.” This new ETF aims to track the TRX coin from the altcoin Tron while offering staking returns. The application specifies that BitGo Trust Company will manage custody services for the fund, which aims to boost returns for investors by leveraging various assets on the Tron network. Targeting Returns with TRX ETF + StakingIs the SEC Easing Its Stance on Cryptocurrencies? Targeting Returns with TRX ETF + Staking The Canary Staked TRX ETF is designed not only to mirror the price fluctuations of the TRX coin but also to employ some of its assets through staking mechanisms. The SEC filing reveals that the fund’s strategy includes generating passive income by operating a portion of the TRX through multiple staking providers, capturing the interest of those keen on staking rewards. This initiative is expected to particularly entice investors looking for staking-derived income. BitGo Trust Company, chosen for custody services, is noted for its adherence to regulatory standards and security measures within the industry. Currently, TRX boasts a market capitalization of approximately $22.9 billion, placing it ninth among cryptocurrencies. Founded by Justin Sun, Tron has become a prominent platform for decentralized applications (dApps) in recent years. Is the SEC Easing Its Stance on Cryptocurrencies? The SEC has historically been cautious regarding cryptocurrency ETF applications, especially during Gary Gensler’s tenure. However, recent approvals of spot Bitcoin ETFs and Ethereum ETFs in January 2024 signify a shift in this approach, particularly following Grayscale’s successful legal challenge against the SEC. With Donald Trump expected to take office in early 2025, the SEC’s softened stance towards the cryptocurrency market is becoming increasingly evident. The…

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Filed under: News - @ April 19, 2025 2:21 pm