The post Cboe requests to list first US spot Tron ETF offering staking rewards appeared on BitcoinEthereumNews.com.

Cboe BZX Exchange has filed a proposed rule change with the Securities and Exchange Commission to list and trade shares of the Canary Staked TRX ETF under Rule 14.11(e)(4), marking the first attempt to register a US-based spot Tron ETF fund offering staking rewards. Filed on May 12, the proposal seeks approval to list Commodity-Based Trust Shares representing fractional interests in a trust holding TRX, the native asset of the Tron blockchain. What does the fund contain? The ETF, sponsored by Canary Capital, plans to stake a portion, potentially all, of its TRX holdings through one or more trusted providers, with staking rewards that contribute directly to funding NAV. Per the fund’s S-1 filed April 18, this structure enables investors to gain exposure to TRX’s spot price while earning yield from the network’s delegated proof-of-stake system. The current TRX staking yield sits around 4.6% APR, per StakingRewards. The ETF would track the CoinDesk TRX USD CCIX 60-minute New York Rate. The Pricing Benchmark aggregates notional TRX spot trades across major venues and is updated every 15 seconds. Using this index, net asset value will be calculated daily at 4 P.M. ET. Shares will be created and redeemed in 10,000-share baskets for cash only, with BitGo as custodian. All staking activity will be performed at the trust level, keeping authorized participants isolated from direct TRX exposure or staking delegation rights. Arguments for accepting the ETF Importantly, Cboe argues that the proposed product does not require a surveillance-sharing agreement with a “regulated market of significant size,” the threshold first introduced in the SEC’s 2018 Winklevoss disapproval order. Instead, it cites recent SEC approvals of spot Bitcoin and Ethereum products, where futures market size was deemed insufficient but “other means” to detect and deter manipulation were accepted. Cboe asserts similar justification applies here,…

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Filed under: News - @ May 15, 2025 8:21 am