Canary Capital will launch the first U.S. exchange-traded fund (ETF) offering both TRX exposure and staking on Wednesday. TRXS will serve as the fund’s trading symbol.
Beyond tracking TRX’s price, the new Canary fund can earn additional tokens by participating in Tron’s proof-of-stake mechanism. Canary said the ETF’s net asset value will reflect the staking rewards it receives.
TRX is the eighth-largest cryptocurrency, with a market capitalization of $32.1 billion, according to CoinGecko data.
Tron Executives Point to Stablecoin Activity
Justin Sun, who founded Tron, said the ETF gives institutional investors another way to gain exposure to the network. He described the launch as a sign of broader recognition of Tron’s role in the worldwide digital economy, pointing to the substantial volume of financial activity already taking place on the blockchain.
Canary Capital CEO Steven McClurg described Tron as an increasingly important part of the technology underpinning digital-asset payments and settlement as stablecoin use grows worldwide. He said Canary believes investors are looking beyond individual cryptocurrencies and paying greater attention to the blockchain networks enabling practical financial applications.
Canary Adds to Crypto Fund Rollout
The TRX product expands Canary Capital’s cryptocurrency ETF lineup, which also includes funds providing exposure to XRP, HBAR, and Litecoin.