The Canary Staked TRX ETF is set to launch today on Cboe BZX Exchange under the ticker TRXS. It will give U.S. investors the first regulated product that combines spot token exposure with on-chain staking rewards. TRON price has jumped more than 1% over the last 24 hours.
Canary Staked TRX ETF Gains Approval to List on Cboe
Canary Capital confirmed it will launch Staked TRX ETF on September 9. The issuer will list and trade shares on Cboe BXZ Exchange under the ticker TRXS.
The latest SEC filings revealed approval to list and trade on the Cboe BXZ Exchange and the final prospectus, indicating SEC approval for the Canary Staked TRX ETF to offer investors exposure to TRON price. The spot to generate staking rewards by participating in the TRON network’s proof-of-stake process.
The TRX ETF has disclosed a 1.10% management fee. The Canary Staked TRX ETF is to cover ordinary operating expenses up to $200,000 per fiscal year. However, the issuer has not disclosed any fee waiver.
As CoinGape reported earlier, Canary Capital expects to stake 90% of TRX under normal conditions, with staking rewards shared among staking providers, sponsor, and custodian. The total staking fees will not exceed 20% of the TRX staking rewards.
“As of the date of this prospectus, the aggregate Staking Fees are expected to be 20% of the TRX staking rewards, resulting in the Trust retaining 80% of the TRX staking rewards generated by the Staking Program,” it states.
The filing also revealed seed capital investment to launch the Canary Staked TRX ETF. Canary Capital Group plans to purchase 10,000 shares at $25 per share.
TRON Price Action Ahead of Launch
TRON price surged almost 1.50% over the past 24 hours, currently trading around $0.339. Analysts note the move is more significant for access than for immediate price impact. The spot ETF will let brokerage-account holders participate in TRON staking without managing wallets or lock-up periods.
Justin Sun said “After shouting for so many years about institutions entering the market, they’ve finally arrived!” Canary has already launched several other altcoin ETFs, including crypto products tied to XRP, Litecoin, and Solana.
Derivatives markets showed mixed sentiment, according to Coinglass data. At the time of writing, the total TRX futures open interest jumped more than 0.50% to $263.39 million in the last 4 hours.
TRON futures OI on Binance rocketed more than 2.50% ahead of Canary Staked TRX ETF launch. It has also climbed on OKX, Bybit and other major exchanges. However, TRON futures open interest dropped almost 2% on Hyperliquid over the past 24 hours.
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