Share this article
Canary Capital Files for Tron ETF With Staking Capabilities
The Securities and Exchange just days ago postponed its decision on Grayscale’s request to add staking to its ethereum ETF products.
Updated Apr 21, 2025, 2:27 p.m. Published Apr 18, 2025, 9:07 p.m.
What to know:
- Canary Capital has filed for a U.S. spot ETF that would track the price of Tron’s TRX token and include staking.
- The proposed fund would use third-party providers for staking and BitGo as custodian, with pricing data from CoinDesk Indices.
- The SEC has previously resisted staking features in crypto ETFs, though the current leadership may be more open to them.
Canary Capital is looking to launch an exchange-traded fund (ETF) tracking the price of Tron’s native token, TRX, according to a filing.
STORY CONTINUES BELOW
The hedge fund submitted a Form S-1 for the Canary Staked TRX ETF with the Securities and Exchange Commission (SEC) on Friday. As the name suggests, the fund — if approved — would stake portions of its holdings.
This would be done through third-party providers, with BitGo acting as custodian for the assets. The fund would track TRX’s spot price using CoinDesk Indices calculations.
A proposed ticker as well as the management fee for the product have not been shared yet.
Issuers had initially filed applications for spot ethereum ETFs with the staking feature included but removed them in an amended filing later in order to receive approval from the SEC on their proposals.
While the SEC under former Chair Gary Gensler was strictly against staking, issuers have grown more hopeful that they will be able to add the feature to their spot ether funds, among others, with the appointment of crypto-friendly Chair Paul Atkins.
A decision on a February request from Grayscale to allow staking in the Grayscale Ethereum Trust ETF (ETHE) and the Grayscale Ethereum Mini Trust ETF was postponed by the regulator just a few days ago.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
State of Crypto: Wrapping Up the Month
Congress continues to make progress on crypto issues but things are moving slowly.
Top Stories
