The first staking exchange-traded fund tied to Tron is set to enter the U.S. market on Wednesday, according to ChainCatcher. Issued by Canary Capital, the Canary Staked TRX ETF will trade under the ticker TRXS and is designed to give investors a traditional market route to gain exposure to the TRX token. The fund also includes the ability to earn additional TRX through the network’s proof-of-stake mechanism, with staking rewards reflected in the fund’s net asset value. Tron founder Justin Sun said the launch shows growing recognition of the Tron network as a key piece of infrastructure for the global digital economy. Canary Capital CEO Steven McClurg said Tron has become important infrastructure for digital asset payments and settlement as stablecoin adoption continues to expand globally. Over the past year, Canary Capital has launched several crypto ETFs, including products tracking HBAR, Litecoin and XRP. Data from The Block put TRX’s market capitalization at about $32.1 billion, ranking it as the eighth-largest cryptocurrency.
The first staking exchange-traded fund linked to Tron is set to begin trading in the U.S. on Wednesday.
According to ChainCatcher, Canary Capital’s Canary Staked TRX ETF will list under the ticker TRXS, giving investors a new way to access the TRX token through traditional financial markets. The fund also includes the potential to earn additional TRX through the network’s proof-of-stake mechanism, and those staking rewards will be reflected in the fund’s net asset value.
Comments from Tron and Canary Capital
Tron founder Justin Sun said the launch shows that the Tron network is gaining recognition as a key infrastructure layer for the global digital economy.
Canary Capital CEO Steven McClurg said that as stablecoin adoption continues to grow worldwide, Tron has become key infrastructure supporting digital asset payments and settlement.
Canary Capital’s broader crypto ETF lineup
Over the past year, Canary Capital has launched several crypto ETFs, including products tracking HBAR, Litecoin and XRP.
TRX market value
According to pricing data from The Block, TRX has a market capitalization of about $32.1 billion, making it the eighth-largest cryptocurrency.
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