Canary Capital’s proposed Staked Tron ETF is expected to list on the Cboe BZX exchange on Sept. 9 under the ticker TRXS, according to ETF analyst Henry Jim. The product would provide U.S. investors with spot exposure to TRX while generating additional staking rewards. The Aug. 19 prospectus remains subject to completion and sales cannot begin until the SEC registration statement becomes effective. TRX traded near $0.336 on Sept. 8, with its market value at roughly $31.83 billion. The filing indicates at least 90% of the trust’s TRX would be staked, with 80% of rewards reinvested into the fund’s net asset value.
Canary Capital’s staked Tron ETF is expected to list on Cboe BZX on Sept. 9 under ticker TRXS, according to ETF analyst Henry Jim. The proposed launch would package spot TRX exposure and staking rewards inside a U.S.-traded investment product.
The Aug. 19 prospectus remained subject to completion, stating sales could not begin until the SEC registration statement became effective. Shares were also subject to Cboe’s notice of issuance.
TRX traded near $0.336 on Sept. 8, down less than 1% over 24 hours. CoinMarket data placed its market value near $31.83 billion.
Canary filed the initial registration statement in April 2025. According to recent amendments, Cboe BZX is the designated exchange.
The Staked Tron ETF would hold TRX directly to track its value. A secondary goal is generating extra TRX through staking.
In normal times, at least 90% of the trust’s TRX should be staked. Service providers will get 20% of the staking rewards, while 80% will be credited to the NAV and then restaked.
Daily NAV calculation will use the CoinDesk 60-minute, time-weighted TRX benchmark index at 4 p.m. New York Time. Authorized participants can create or redeem baskets of 10,000 shares using cash or TRX.
TRX will be held by BitGo Bank & Trust, while cash will be at US Bank. U.S. Bancorp Fund Services will act as administrator and transfer agent.
Canary would charge a 1.10% annual sponsorship fee in TRX. The token value held per share may decline if staking proceeds do not cover fees and costs.
A key risk involves a 14-day unstaking requirement on the Tron blockchain. Canary would keep some TRX unstaked for redemptions, but high redemption activity could strain liquidity.
The filing indicates no digital assets receive FDIC or SIPC insurance coverage. Shares may trade at premiums or discounts to net asset value.
