Justin Sun, founder of Tron (TRX), confirmed rumors about the TRX ETF by sharing events with 3.8 million followers on social media platform X. The Securities and Exchange Commission (SEC) has received a huge number of applications from XRP, Solana and even DogeCoin ETFs. Some doubted the credibility of the information when rumors about the Tron ETF spot were leaked.
Now, Justin Sun confirmed by submitting a link to Canary Capital’s Form S-1 with regulators. With this development, Canary Capital will become the first asset manager to apply for a Tron ETF. The goal is to provide investors with spot prices for TRX and earn rewards at 4.5% annual yield. The staking feature allows Tron ETF investors to earn additional returns on their investments.
SEC does not provide staking functionality to Crypto ETFs. Regulators have not ruled any proposed changes by the Spot Fund for Grayscale’s Ethereum Staking. Meanwhile, according to Canary’s submission, the registration statement did not mention the exchange they wish to trade in the proposed fund.
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