Canary Capital says its proposed staked TRX ETF is on the way soon, pointing to an amended SEC registration statement filed on Aug. 19. The fund would trade under the ticker TRXS, staking substantially all of its TRX while keeping 80% of the rewards, but no launch date or SEC effectiveness notice has been published yet.
Canary Capital said its proposed Canary Staked TRX ETF is on the way soon, pointing investors toward an amended registration statement filed with the U.S. Securities and Exchange Commission on Aug. 19. The asset manager has not announced a trading date, and its latest filing remains a preliminary prospectus that says the securities cannot be sold until the registration statement becomes effective.
TRXS would combine price and staking exposure
The product would trade under the ticker TRXS, giving investors exposure to TRX through ordinary brokerage accounts while also participating in the network's staking process. The fund's primary objective is to track the price of TRX held by the trust, minus operating expenses. Its secondary objective is to earn additional TRX by staking tokens through the network's proof-of-stake process.
Canary expects to allocate substantially all of the trust's TRX to staking, and the prospectus says staking fees would not exceed 20% of generated rewards, leaving the trust the remaining 80%. Those fees would be shared among the staking provider, Canary and the custodian, and rewards would be included in the fund's daily net asset value calculations.
Filing names its exchange, fee and custodians
TRXS is expected to list on Cboe under the prospectus, subject to regulatory and operational conditions. The Aug. 19 amendment set the annual sponsor fee at 1.10% of the trust's TRX holdings, accruing daily and payable monthly in TRX or cash. BitGo Bank & Trust would hold the fund's TRX, while U.S. Bank would serve as cash custodian and U.S. Bancorp Fund Services would handle administrative and transfer-agent duties.
SEC filing is not approval or a launch confirmation
However, an S-1 amendment does not mean the SEC has endorsed the investment. The prospectus explicitly says neither the SEC nor any state securities regulator has approved or disapproved the securities or judged the prospectus accurate. Canary's announcement therefore reflects the sponsor's launch expectations, without a firm date or confirmation that every regulatory condition has been completed.
TRX traded near $0.328 on Sept. 4, approximately 0.6% higher during the session, with an intraday range of roughly $0.326 to $0.332. The modest movement did not establish a direct connection between the ETF announcement and TRX's price. Tron's expanding stablecoin business provides relevant context: the network processed $2.1 trillion in quarterly USDT transfers during Q2 2026, with USDT supply on the network reaching $87.9 billion at quarter-end.
The clearest remaining milestone is an SEC notice declaring the registration statement effective. Until that happens, TRXS remains a proposed, pre-launch product rather than an operating ETF.
Source: crypto.news
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